President Nana Addo Addo Dankwa Akufo-Addo has always admitted that Ghana is going through economic challenges due to global factors, Former Member of Parliament for Tempane, Joseph Kpemka Dindiok, has said.
In his view, creating an impression that Mr Akufo-Addo only admitted the economic crisis in his public address last Sunday October 30, will be misleading.
“The President has always admitted that Ghana is facing challenges,” he said on the Key Points on TV3 Saturday November 30.
“I am not aware of any tape of the president saying milk and honey are flowing in Ghana, if you have that tape play it,” he stressed.
He further indicated that it is fact that the Covid as well as the Russia-Ukraine conflict negatively impacted Ghana’s economy.
“It will be an act of pretense to say Covid crisis, and the Russia-Ukraine crisis have not impacted the economy,” he said.
President Akufo-Addo, after admitting the economic crisis, outlined measures to deal with the problems.
He said “The following actions have been taken thus far: 1) enhanced supervisory action by the Bank of Ghana in the forex bureau markets and the black market to flush out illegal operators, as well as ensuring that those permitted to operate legally abide by the market rules.”
“Already some forex bureaus have had their licenses revoked, and this exercise will continue until complete order is restored in the sector,” he said.
The other measures are “Fresh inflows of dollars are providing liquidity to the foreign exchange market, and addressing the pipeline demand;
“The Bank of Ghana has given its full commitment to the commercial banks to provide liquidity to ensure the wheels of the economy continue to run in a stabilized manner, till the IMF Programme kicks in and the financing assurances expected from other partners also come in;
“Government is working with the Bank of Ghana and the oil producing and mining companies to introduce a new legal and regulatory framework to ensure that all foreign exchange earned from operations in Ghana are, initially, paid to banks domiciled in Ghana
“The Bank of Ghana will enhance its gold purchase programme.”
Mr Akufo-Addo further assured Ghanaians that his government cares about them hence, is working hard to ameliorate the hardships they are going through presently.
He says the government is determined to restore economic stability.
He said “It is obvious, fellow Ghanaians, that you have a government that cares. We are determined to restore stability to the economy, and provide relief.
“We are all in this together, and I am asking for your support to rescue Ghana from the throes of this economic crisis.”
He further referred to a number of initiatives the government introduced to support Ghanaians
He said “No guarantor is now required to obtain student loans. The Ghanacard is sufficient; and we have implemented free TVET as well as free senior high school education.
“We expanded School Feeding from 1.6 million children to 2.1 million children; we restored teacher and nursing training allowances; we absorbed the cost of BECE and WASSCE exam registrations for parents;
“It is for this reason that over the first five (5) years in office government reduced electricity tariffs cumulatively by 10.9%, we provided free water and electricity as well as reduced tariffs for the entire population during a whole year of the COVID-19 pandemic.”
He stressed “My government has always been cognisant of the importance of implementing policies and social interventions to relieve Ghanaians of hardships.”
By Laud Nartey|3news.com|Ghana
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