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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
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ASWIM lauds Prof Naana Jane Opoku-Agyemang
The Association of Women in the Media, (ASWIM) has congratulated Professor Naana Jane Opoku-Agyemang on her historic achievement as Ghana’s first female Vice President.
The association said her trailblazing journey with sterling accomplishments from academia to politics, is undoubtedly, a vivid inspiration to countless women and girls across Ghana and Africa.
This was contained in a statement signed by its president, Mrs Mavis Kitcher, and copied to The Spectator on Tuesday in Accra.
“ASWIM celebrates your remarkable career, marked by numerous firsts, including the first female Vice-Chancellor of the University of Cape Coast, (UCC), and the first female to hold a professional chair in Ghana, (UCC),” the statement said.
It said the accomplishments of Prof Opoku- Agyemang were clear testament to the brilliance, resilience and resourceful nature of the complete beautiful African woman.
“As she takes on this new role, ASWIM proudly lauds her commitment to education, women’s empowerment, distinguished public service and patriotism and is very confident that her pursuit of excellence, love for humanity, humility, decency, modesty and commitment to the welfare of the vulnerable will characterise Ghana’s political leadership and public service,” the statement added.
By Jemima Esinam Kuatsinu
Entertainment
Demolition of Fantasy Dome unfair — Mark Okraku-Mantey
Months after the Fantasy Dome was dismantled to make way for construction at the Ghana International Trade Fair site, the Deputy Minister of Tourism, Arts and Culture, Mr Mark Okraku-Mantey, has expressed concern over the manner the facility was destroyed.
In an interview on Daybreak Hitz with Andy Dosty, Mr Okraku-Mantey criticised the handling of the dome’s dismantling, suggesting that it could have been done without causing damage.
“I don’t think that leadership gave instructions that they should do what happened. The structure was a prefab but I hear the people destroyed it. That one, we cannot defend it. It is unfair to him (owner). Sometimes, you give instructions and people will go and do things that will make you look bad,” he stated.
When asked about any punitive measure against the workers responsible for the destruction, Mr Okraku-Mantey clarified that the Trade Fair does not fall under his ministry.
He said he had previously contacted the owner, Leslie Quaynor, to discuss relocating the dome, and even suggested the National Museum as a potential site, though it was too small.
The demolition of the 20,000-seater Fantasy Dome occurred on March 16, 2024.
According to Dr Agnes Adu, CEO of the Ghana Trade Fair Company Limited, the action was taken after multiple notices were given to Quaynor to vacate the premises for redevelopment, as per their tenancy agreement.
Dr Adu noted that all previous tenants had complied except for the Fantasy Dome.
Quaynor, in an interview with JoyNews, confirmed that his lease had ended, and was in the process of relocating the dome.
He had requested an extension, which was denied, leading him to seek a writ and an injunction from an Accra High Court to halt the demolition.
Despite this, the demolition proceeded, causing significant damage to the structure.
Quaynor described the incident as a major setback, not only for his business but also for the entertainment industry, which relies on venues like the Fantasy Dome.
