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Dollarisation of Ghana’s economy not solution to Cedi depreciation – ASEPA
The Alliance for Social Equity and Public Accountability (ASEPA) has disagreed with suggestions by Dr John Kwabena Kwakye, the Director of Research at the Institute of Economic Affairs (IEA), to adopt the dollar as Ghana’s currency to stabilise the country’s economy.
The Executive Director of ASEPA, Mensah Thompson, argued that Ghana’s major hurdles in stabilising the economy are prolonged recklessness and borrowing and not the adoption of the US Dollar.
Mr. Thompson told the host of Breakfast Daily, David Kwaku Saforo-Sakyi on Citi TV that Ghana’s current economic woes should be blamed on the recklessness of the former Minister of Finance, Ken Ofori-Atta, the governor of the Bank of Ghana and President Nana Addo Dankwa Akufo-Addo.
“We are here not because our currency is not held in dollars, we are here because of the recklessness of Ken Ofori-Atta, the governor of the Central Bank and President Nana Addo Dankwa Akufo-Addo. The root cause of our problem is recklessness, borrowing and people who just don’t understand simple economic management who implemented faze economic restructuring that has thrown the economy into a cyclic spiral now going back into a debt hole and the solution is not dollarisation,” he said.
He added that the decision to restructure Ghana’s domestic debt was a bad idea that placed a strain on the Cedi.
According to him, “I have always asked myself, why did the government, after all the recklessness of Ken Ofori-Atta, still decide that if they were going under a debt restructuring programme, Ken Ofori-Atta was the person they were going to allow to oversee that debt restructuring, I was surprised when he decided to restructure our domestic debt.”
Source: Citinewsroom.com
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Traders, ‘Okada’ riders take over Circle pavement
• Korle-Bu CEO with staff of Nivaansh MediQas
Activities of traders and drug addicts are contributing to make the Kwame Nkrumah Interchange (Circle) area very uncomfortable and unsafe for commuters.
Day in and out, pedestrians are ‘ejected’ from the pavement created for their safety as traders preferred to sell their wares on that space.
That hinders the free movement of the pedestrians.
The small space left for the pedestrians are also shared with ‘Okada’ riders.
As if these woes are not enough for a commuter on a single day, they also have to navigate carefully to avoid clashes with drug addicts and the mentally challenged.
These people have turned the pavements into their places of abode, covering every inch of space with their wares.
Our photographer, Lizzy Okai, captures some of the unfriendly scenes the authorities must try and deal with to restore sanity to the area.
By Lizzy Okai
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NDC outlines demands before committing to Peace Pact
The National Chairman of the opposition National Democratic Congress (NDC), Johnson Asiedu Nketia, has set forth specific conditions that the party insists must be met before considering signing the Peace Pact advocated by the National Peace Council in anticipation of the December 7 elections.
Mr. Nketia expressed scepticism about the effectiveness of past Peace Pacts, highlighting that they had not achieved their intended outcomes, particularly referencing the 2020 elections, during which eight NDC members were allegedly killed by national security operatives without accountability.
During an August 20 meeting with the National Peace Council at the NDC headquarters, Mr. Nketia detailed the certain conditions for the NDC’s participation in the Peace Pact.
The NDC is demanding that the recommendations from the investigation into the violence during the Ayawaso West Wuogon by-election be fully implemented.
They also want those responsible for election-related violence in the last election to be prosecuted, stressing the importance of justice and prevention.
The party is calling for accountability regarding irregularities in the printing of ballot papers and insists that visible measures be taken to prevent such issues from happening again.
They are also pushing for a thorough investigation into the missing IT equipment from the Electoral Commission’s (EC) warehouse, expressing concerns about the integrity of the EC’s systems and the potential bias of its staff.
Furthermore, the NDC is urging the President to publicly commit to respecting the results of the 2024 elections. Lastly, the party insists that the Peace Pact should be signed by key figures, including the Inspector General of Police, the Chief Justice, the Attorney-General, and the National Security Coordinator, before they will consider signing it themselves.
Source: Citinewsroom.com
