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Fix depreciating Cedi and stop dancing off-beat – Ato Forson to Bawumia
The Minority in Parliament has expressed concern over the ongoing challenges facing the Ghana Cedi, warning that the situation is likely to deteriorate further.
They highlighted that the local currency now trading at GH₵15 against a dollar has led to traders passing on the increased costs to consumers.
This has resulted in a noticeable surge in the prices of goods and services across various commercial districts such as Okaishie, Abossey Okai, and Kejetia.
Addressing journalists in Parliament on Wednesday, May 15, 2024, the Minority Leader Dr. Cassiel Ato Forson criticised the Chairman of Economic Management Team, Dr. Bawumia, for what he perceives as a failure to address the currency’s depreciation effectively.
Dr. Ato Forson emphasised the adverse impact of the Cedi’s decline on businesses, stressing the need for urgent action to stabilise the situation.
The former Deputy Finance Minister urged all well-meaning Ghanaians to hold Dr. Bawumia accountable for his performance as the head of the Economic Management Team.
He argued that Dr. Bawumia’s administration has fallen short in managing the economic challenges, particularly regarding the stability of the Cedi.
According to him, “In spite of the huge inflows of foreign exchange from the IMF and the World Bank, into the Ghanaian economy, and I’m talking of billions of Ghana cedis, billions of US dollars, the government’s action and its management of the cedi have continued to fuel steep depreciation with no end in sight unfortunately.”
“So far, the decisions of the Economic Management Team, chaired by our Vice President Alhaji Bawumia leaves a lot to be desired. The reality of the Ghanaian economy today exposes the credentials of the so-called economic wizkid who was marketed as the saviour of Ghana’s economy. Alhaji Bawumia’s credibility is now in tatters,” he noted.
“I want to use this opportunity to urge the Vice President to quit his off-beat dancing on the campaign trail and focus on the dancing cedi. There’s a lot awaiting our country as a result of reckless mismanagement by Alhaji Bawumia’s government,” he said.
The Minority’s remarks come amidst growing concerns among traders and consumers regarding the continuous depreciation of the Cedi and its ripple effects on the cost of living.
Many traders have been forced to adjust their prices upwards to offset the increased exchange rates, further burdening consumers already grappling with economic challenges.
Source: Citinewsroom.com
Ghana’s First Lady, Lordina Mahama, has made a generous donation to the country’s national female Under-17 and Under-20 teams – Black Maidens and Black Princesses- as they continue preparations for major international assignments.
The donation, made on Friday, May 22, was presented on behalf of the First Lady by the Minister for Gender, Children and Social Protection, Agnes Naa Momo Lartey, at the GFA Technical Centre in Prampram.
The gesture forms part of efforts to motivate and support Ghana’s young female footballers as they prepare to represent the country on the international stage.
The donation included essential food items and toiletries aimed at supporting the welfare and well-being of the players and technical teams.
The donation included cartons of Milo, T-rolls, soft drinks, toiletries, and a range of essential supplies aimed at supporting the welfare of the players, enhancing camp conditions, and easing preparations ahead of their respective assignments.
The Black Maidens are currently engaged in preparations for the FIFA U-17 Women’s World Cup qualifiers and are set to take on Liberia women’s national under-17 football team in the second-leg encounter in Liberia this weekend.
Meanwhile, the Black Princesses have already secured qualification to the FIFA U-20 Women’s World Cup after overcoming Uganda in the qualifiers, extending Ghana’s remarkable record to eight consecutive appearances at the tournament.
The donation by the First Lady was expected to boost morale within both camps while reinforcing national support for the young female footballers who continue to make the country proud.
The prosecution has officially rested its case in The Republic v Solomon Asamoah & Another, the high-profile legal battle commonly referred to as the “Sky Train” case.
The Deputy Attorney General Justice Srem Sai announced the development, praising the state’s team of hard-working prosecutors for successfully anchoring the state’s evidence before the High Court.
The criminal trial centers on the former Chief Executive Officer and the former Board Chairman of the Ghana Infrastructure Investment Fund (GIIF).
The duo stands accused of illegally authorizing and paying out US$2 million to a foreign company without obtaining board directives or other mandatory statutory approvals.
State investigators have confirmed that the disbursed millions cannot be found.
Following the closure of the prosecution’s case, the accused persons moved the court for an opportunity to file a submission of no case.
The presiding judge granted the application, ordering the defense to submit their arguments by June 8.
The outcome of the June 8 filings will decide the fate of the trial:
With this, if the judge finds the defense’s submission convincing, the accused will be acquitted and discharged however, If the judge dismisses the submission, the court will order the accused officials to take the stand and explain why they should not face prison sentences.
By Edem Mensah-Tsotorme
