'Fire Ken Ofori Atta To Save The Country' – AFAG To Akufo Addo | Politics

Mr PRESIDENT SPEAK ACT NOW

The Alliance for Accountable Governance (AFAG) is a public curiosity advocacy group however shares a whole lot of centre-right positions on points which regularly than not are in sync with the ideological philosophy of the New Patriotic Party( NPP), through the years have been quiet out of goodwill to Government. However, in view of current developments, we're compelled to depart from our present place on nationwide growth.

Mr President, it's our thought of opinion that the present velocity of the cedi depreciation is borne out of the mischief of speculators, and is solely synthetic. Although it would mirror an extent of challenges with the steadiness of fee on account of put up covid and Ukraine struggle, there's some panic shopping for, a insecurity and a excessive diploma of uncertainty within the monetary market.

Mr President, there's a sure conspiracy idea that factors to the central financial institution supervision on the foreign exchange market as weak, it's the perception that extremely positioned individuals within the central and industrial banks with revenue motives public sale {dollars} at an interbank charge which is clearly cheaper to the black markets who then promote it in the marketplace at very excessive charges. It can also be the assumption that businessmen within the subregion are contributing to the risky state of affairs by coming into Ghana to promote their forex and purchase {dollars} for affordable in Ghana thereafter, sending it to their international locations( the place {dollars} are fairly costly). Mr President that is amongst others.

Mr President, additionally important is the mass perception by Ghanaians that the minister of finance is doing little or no to shore up confidence available in the market. Nevertheless, however arguably so, there's a widespread notion of him not doing a lot coupled along with his assault on the IMF. It is the assumption of the finance minister that, going to the IMF has a dire impact on the economic system and that Ghana will not search any help from the IMF. AFAG finds it, inconsistent of him, subsequently, to guide the IMF negotiations or stay in workplace now that the government is looking for a bailout.

Mr President, it's time to current an financial restoration plan to the nation. IMF intervention wouldn't be sufficient to salvage the state of affairs.

Over the interval, you haven't additionally addressed the nation. We discover this extremely uncommon primarily based on how previously you may have fostered cooperation from Ghanaians by way of your frequent addresses through the covid disaster. We will want you to cut back nervousness within the system and let Ghanaians know of the "whys" and "hows".

RESOLUTION:
● The minister of finance have to be reassigned
● some foreign exchange restrictions focused at individuals undermining the system from the central financial institution by way of the industrial banks to the unlicensed foreign exchange operators
● examine the banks and prosecute officers engaged in foreign currency trading
● imposes import restrictions on chosen gadgets
● partaking multinational corporations, and enterprise ventures contributing to the capital flight.
● proscribing the export of foreign exchange to a sure stage no less than within the subsequent 6 months.
● Ensuring that merchants who export US {dollars} from Ghana within the yr have imported about an equal quantity to the nation.
● Encourage Ghanaians to grasp why the present charges are synthetic and the way they may commerce at a loss when the market settles and the cedi benchmarks to the US Dollar at its actual worth.

Signed

AFAG LEADERSHIP