Where are your men? – Appau-Klu asks Akufo-Addo to fall from the cedi

General News of Saturday, March 30, 2019

Source: X Y Z

2019-03-30

A former deputy spokesman for the flagship campaign of former President John Mahama calls on President Akufo-Addo to produce "capable men" to stabilize the Ghanaian economy and the fall of the cedi.

Elsie Appau-Klu said that when the New Patriotic Party (NPP) was in opposition, the candidate Akufo-Addo claimed that the party had the ability to lead the country's development agenda when it was elected to power, but since he took power to national power. Democratic Congress (NDC) in 2017, these men seemed to have disappeared, leaving the economy in a terrible state.

Ms. Appau-Klu, a private lawyer, made this observation by participating as a panel member in Ete Sen, a political debate on Radio XYZ on Friday morning.

"I want to question President Akufo-Addo about the men he said he had kept," she pointed out and noting that the country's economy was bad because men were "out of control." business that complained while the NDC was in power "crying" difficulty doing business in Ghana.

"Go to Abossey Okai [a spare parts hub in Accra] and see how people are crying. They are shouting at the high import taxes and the depreciation of the cedi … Today, if you buy an item for 100 cedis, you will buy the same item tomorrow for about 120 cedis, "added Appau-Klu.

According to the public policy badyst, the party that boasts of having the capacity to govern Ghana by competent men should not take precedence over a "weak economy" like that of Ghana.

The cedi has been immensely depreciated against major commercial currencies over the past month, raising questions about the skill of Akufo-Addo and his cousin, Ken Ofori-Atta, Minister of Finance.

The cedi was relatively stable last week as the government obtained a $ 3 billion Eurobond, part of which was used to support it. This has however been criticized by financial experts, including Isaac Adongo, Bolga's central legislator.

Ken Ofori-Atta, who sat in Parliament on Thursday, revealed that the success rate of the $ 3 billion Cedis, largely oversubscribed, made the economy behave well. support him.

According to reports, last week's breath, which saw the cedi appreciate against the dollar, from 5.85 GHS to nearly 5.15 GHS last week, collapse again.

The average interbank rates are now indexed to the dollar, at 5.34 Gp Cg, raising fears that "short-term" interventions will aggravate the crisis.

International economist Kwame Mpiani, who also spoke on the same topic in the Media General's Economic Dialogue series, suggested that the ad hoc measures the government had used to stabilize the cedi would not be maintained very well. long time.

However, the finance minister is optimistic that the measures put in place by the government will yield positive results.

According to Ofori-Atta, the current trend is the result of investor speculation and not weak economic fundamentals, as some Ghanaians say.

Cbadiel Ato Forson, a former member of Parliament's Finance Committee and former Deputy Minister of Finance, said the minority was ready to respond to the government's call for a two-party committee to limit the depreciation of cedi, in particular The Akufo-Addo administration realized that it did not have the magic wand to face the economic challenges, as it did believe to the Ghanaians.