Connect with us

Politics

Ato Forson to the government: Fixing the plummeting cedi must be more important to you than getting additional loans

Published

on

Dr. Forson emphasised that the Akufo-Addo administration's main worry should be the worrisome devaluation of the Ghanaian cedi. The Minority Leader stated that the quick decrease in the value of the local currency is producing major economic issues, such as company closures and increased unemployment. The Minority Leader voiced alarm about the ongoing depreciation of the Cedi, which he claims is raising the cost of products and services throughout the country. According to him, this is placing a lot of strain on regular Ghanaians and making their lives worse.

Dr. Cassiel Ato Forson, the Minority Leader, has criticised President Akufo-Addo for convening an emergency parliamentary session at the request of the Majority caucus on Friday, May 17.

He said that there was no genuine emergency that required the recall of Parliament to accept a $150 million World Bank loan.

Dr Forson, a former Deputy Finance Minister, declared at the opening of the parliamentary session that loan clearance was unnecessary.

He emphasised that the administration had already misappropriated cash from the first portion of the previously approved loan.

Dr. Forson emphasised that the Akufo-Addo administration’s main worry should be the worrisome devaluation of the Ghanaian cedi.

The Minority Leader stated that the quick decrease in the value of the local currency is producing major economic issues, such as company closures and increased unemployment.

The Minority Leader voiced alarm about the ongoing depreciation of the Cedi, which he claims is raising the cost of products and services throughout the country.

According to him, this is placing a lot of strain on regular Ghanaians and making their lives worse.

He advised the government to concentrate on stabilising the Cedi rather than obtaining new loans for what he referred to as spending.

Dr Forson emphasised the need for the government to put economic stability and civilian well-being first.

The Ajumako-Enyan-Essiam congressman maintained that solving the Cedi’s free slide should be the government’s top priority.

He cautioned that failing to do so would deepen economic suffering and jeopardise the country’s financial stability.

In conclusion, Dr Forson urged the government to reconsider its objectives and take quick measures to stabilise the economy rather than incur further debt.

He advised a change away from borrowing and towards policies that would strengthen the local currency and promote long-term economic prosperity.

“How is the approval of a US$150 million loan an urgent issue, when US$200 million for phase one approved by this House has been misapplied and not accounted for?”

“How is it an urgent matter for Parliament to be summoned from recess to approve a-US$150 million loan agreement at a time that this government is granting questionable US$450 million tax waiver?”

“Therefore, we want to make the point clear that there is no urgent matter before the House to warrant this recall.”

“Rt. Hon. Speaker, the urgent matter facing the people of Ghana, particularly businesses, traders and households is the free fall of the Cedi. This is a matter that concerns everyone. The depreciation of the Cedi should be an urgent issue for all of us,” he said.

Continue Reading

Politics

‘The 24-hour economy is the solution to Ghana’s economic difficulties – Mahama

Published

on

By

445203457 1005644447583954 6596740987401122827 n

John Dramani Mahama, the flagbearer of the National Democratic Congress (NDC), has declared that his planned 24-hour economy proposal is the solution to Ghana’s financial and economic problems.

In a unique live broadcast titled ‘Mahama Conversations,’ the former president stated that the planned 24-hour economic project is the solution to Ghana’s current and future concerns.

Mr. Mahama stated that the effort will provide an enabling and supportive environment for enterprises, companies, and government agencies to create more jobs and hire more people.

He detailed the benefits of the 24-hour economy project, which he claims would raise and increase the standard of life for many more Ghanaians.

“The 24-hour initiative is the answer for now and in the future. It will create an enabling environment with deliberate policies for businesses, companies, and government institutions to operate 24/7 in a three-eight-hour shift system.

“In addition to the traditional 8-hour shift system, the two additional work shifts that my administration will introduce will double and sometimes triple the number of jobs that participate in public and private entities that we currently have.

“This is the 24-hour economy optimization strategy: giving more to society, providing efficient service delivery, and generating decent and well-paying jobs. The benefits of this system will include but not limited to; 24-hour port and harbour services, 24-hour customs services, 24-hour DVLA services, 24-hour agro-processing factories, 24-hour manufacturing industries, 24-hour construction companies and many more.”

Continue Reading

Politics

Mahama: My administration will retrieve riches taken via corrupt methods

Published

on

By

Making reference to former Sanitation Minister Cecilia Dapaah's controversial stashing of over $1 million in her Abelemkpe residence, which was stolen by her domestic staff, Mr. Mahama pledged in a live broadcast titled 'Mahama Conversations,' that he will foster collaborations in his quest to recover every Cedi that was illegally taken from taxpayers. "Despite all of these socioeconomic challenges, the young people continue to witness the affluence of the [New Patriotic Party] administration's leaders and their families chartering private aircraft for $20,000 per hour for journeys that our own Falcon Executive Jet could have completed.

John Dramani Mahama, the National Democratic Congress (NDC) flagbearer, has pledged that if elected president in the upcoming December 7 general elections, his administration will work with relevant authorities and partners to recover funds and properties obtained through corruption.

Former President Mahama lamented the mounting incidences of corruption and apparent contempt for fiscal discipline by the Akufo-Addo administration, promising to do his utmost to guarantee that any funds wrongfully gained are recovered if he wins the forthcoming elections.

Referring to former Sanitation Minister Cecilia Dapaah’s controversial stashing of over $1 million in her Abelemkpe residence, which was stolen by her domestic staff, Mr Mahama pledged in a live broadcast titled ‘Mahama Conversations,’ that he will foster collaborations in his quest to recover every Cedi that was illegally taken from taxpayers.

“Despite all of these socioeconomic challenges, the young people continue to witness the affluence of the [New Patriotic Party] administration’s leaders and their families chartering private aircraft for $20,000 per hour for journeys that our own Falcon Executive Jet could have completed.

“And as the Minister for Defence explained, it [the Falcon Executive Jet] had no shower for a presidential bath. Ghana’s youth have further experienced how a minister could stash millions of dollars in her home and only God knows the full extent of Ghanaian taxpayers’ money that has been stashed away by many others.

“But I say to the good people of Ghana that, working with Ghanaians and international anti-corruption partners, we shall do all that is humanly possible to retrieve such wrongly acquired wealth.”

Continue Reading

Politics

Mahama promises 20% salary incentive for rural teachers if voted

Published

on

By

This adds to Mr Mahama's various plans and pledges made to Ghanaians ahead of the December 7 election.

John Mahama, the flagbearer of the National Democratic Congress (NDC), has vowed that if elected President, teachers who agree to serve in a rural school will receive a 20% wage increase.

The former President believes the idea would motivate more teachers to accept posts in rural regions.

448073801 18359075539101399 5499110774658332465 n

Mr Mahama revealed this in a Facebook post.

This adds to Mr Mahama’s various plans and pledges made to Ghanaians ahead of the December 7 election.

Continue Reading

Trending