News
Patrick Boamah urges Bank of Ghana to suspend forex injections
Member of Parliament for Okaikwei Central, Patrick Boamah, has called on the Bank of Ghana to suspend its continuous foreign exchange injections, arguing that the economy must be allowed to adjust naturally to reflect the true cost of living.
Mr Boamah raised concerns about the amount of money being used to stabilise the cedi, questioning the long term impact of such interventions on national development.
He pointed out that government has spent about 10 billion dollars to support the currency, describing the figure as excessive.
According to him, allowing the economy to run on its own could have saved the country significant funds that could be used for development projects.
Mr Boamah explained that he was speaking as a lay person and not as an economist, but insisted that strong and practical economic policies should reduce the need to constantly support the currency.
He questioned why the state would continue to hold up the cedi with huge sums of money instead of allowing the economy to stand on its own.
He stressed that the key issue is the cost of such interventions to the state and how that compares with Ghana’s pressing development needs.
The Okaikwei Central MP argued that the Bank of Ghana should reduce its role in propping up the currency and allow market forces to reflect the real state of the economy.
In his view, constant intervention only masks underlying problems and creates a false sense of stability.
Mr Boamah noted that while official figures indicate inflation is around five percent, prices of goods and services continue to rise, creating a disconnect between economic data and the lived reality of Ghanaians.
He cited the changing prices of basic items such as bottled water as an example of how cost of living does not align with inflation figures being presented.
He raised concerns about transport fares, questioning why drivers are arrested over pricing disputes while the cost of living keeps rising.
According to him, these everyday experiences highlight the need to look beyond economic statistics and focus on the real conditions people face.
Mr Boamah maintained that allowing the economy to run on its own would provide a clearer picture of Ghana’s economic health and help policymakers take more realistic decisions.
By: Jacob Aggrey
The Tema Regional Police Command has arrested a 30-year-old driver, Bismark Kpormeno, for possession of a large quantity of compressed plant materials suspected to be Indian hemp.
The arrest was made on Sunday, 31 May 2026 by officers of the Tema Highway Patrol Unit during an operation along the Tema-Ada road.
According to police, the suspect was driving a Hyundai Mighty I container truck and failed to stop when signaled. He attempted to evade arrest but was pursued and apprehended at Bondase.
A search of the vehicle revealed twelve 12 sacks and eighty 80 parcels of compressed plant materials concealed in a container and wrapped in sellotape.
Preliminary investigations show the narcotics were allegedly loaded at Kpeve in the Volta Region and were being transported to Ada.
The suspect is currently in police custody assisting with investigations. The truck and exhibits have been impounded for evidential purposes.
The Tema Regional Police Command says it remains committed to combating drug trafficking and other criminal activities.
They also urged the public to support law enforcement by providing timely and credible information on suspicious activities.
Firefighters from the Peki Fire Station of the Ghana National Fire Service (GNFS) responded swiftly to a fatal head-on collision involving a Mercedes-Benz container truck (WR 1553-C) travelling from Nkwanta to Accra and a Mercedes-Benz passenger bus (GR 3215-E) travelling from Battor to Kabiti in the Oti Region.
The crash occurred at Peki-Tsame near Peki Senior High School in the early hours of Tuesday, 2nd June 2026.
A total of forty (40) persons were involved, comprising twenty-one (21) males, fifteen (15) females, and four (4) children.
Through a coordinated rescue operation, firefighters extricated 25 injured casualties, including 23 adults and two children.
Sadly, 15 persons lost their lives, made up of nine males and 6 females.
The injured were conveyed to the Peki Government Hospital for treatment, while the deceased were handed over to the Police, who conveyed them to the hospital mortuary for preservation and further investigation. The cause of the accident remains under investigation.
The Ghana National Fire Service has extended its deepest condolences to the bereaved families and urges all motorists to observe road traffic regulations, avoid dangerous driving practices, and exercise maximum caution on the roads to help prevent accidents and save lives.
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