Popular writer for NPP, PK Sarpong has asked critics of the ruling government not to compare C\u00f4te D’Ivoire economy to that of Ghana.<\/p>\n
In a post shared on his official Facebook page on Saturday, 9th July 2022, he wrote that Critics of this administration have heavily censured the Akufo-Addo administration of running down the economy so much so that it has had to seek solace in the arms of the IMF.\u00a0<\/p>\n
“They are quick to introduce C\u00f4te d\u2019Ivoire as a model neighbour that manages its affairs so well that it doesn\u2019t find itself in a situation warranting a bailout from IMF. They say C\u00f4te d\u2019Ivoire has a stable currency unlike Ghana and that has accounted for lower prices of fuel in the French speaking West African country.” He said.<\/p>\n
PK Sarpong asserted that much as we are in the same region, it is important to segregate how they run their economy as compared to us over the years.\u00a0<\/p>\n
According to him, in terms of the strength of our currencies, C\u00f4te d\u2019Ivoire uses CFA which is regulated by France and pegged at a particular rate or level against other international currencies. Ours is not like that. Under such a system, prices of goods and services are going to remain stable unlike what we experience here.<\/p>\n
He also argued that one other key item lost out to these critics is the fact that the current government C\u00f4te d\u2019Ivoire did not inherit a banking sector which was comatose.<\/p>\n
“The Akufo-Addo administration had to inject in some GHC25 billion to salvage the situation in the banking sector lest depositors lost their investments and deposits. The economy would have collapsed if that had not been done. This never happened in C\u00f4te d\u2019Ivoire as their banking sector was strong.” P.K added.<\/p>\n
He admitted that It is true, we are in a deep crisis. We have gone to the IMF for a collaborative effort to help safeguard the economy from further deteriorating. Notwithstanding this, attempts to suggest that Ghana and neighbouring C\u00f4te d\u2019Ivoire started the race at the same point and we ended up in this current situation are misleading and same ought to be truncated forthwith.<\/p>\n
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