\n
The Finance Minister and Member of Parliament for Karaga, Dr Mohammed Amin Adam,\u00a0 has accused the Minority in Parliament of fueling speculations on the Cedi.<\/strong><\/p>\nHe urged the opposition lawmakers to provide constructive criticisms and ideas to the government to complement the ideas that are already being pursued.<\/p>\n
His comments come at a time when Bolgatanga Central lawmaker Isaac Adongo dismissed his prediction that the Ghana Cedi will soon regain strength against the US dollar.<\/p>\n
Adongo advised businesses that need dollars to ignore the Minister\u2019s assurance and take necessary actions to secure their needs, casting doubts on the likelihood of a quick recovery from the cedi\u2019s recent depreciation.<\/p>\n
The Finance Minister, Dr. Mohammed Amin Adam, that the economy is going to be revamped since Ghana has officially completed its debt restructuring.<\/p>\n
Speaking to journalists in Parliament Wednesday, June 26, 2024, the Member of Parliament for Bolgatanga Central advised businessmen who need the dollar to go ahead and secure it for their businesses.<\/p>\n
The MP, however, advised against persons who don\u2019t need the dollar but purchase it for speculative purposes.<\/p>\n
\u201cPlease, if you have to run your business and you need dollars, just go ahead and buy them. Don\u2019t be listening to what Mohammed Amin, who said that you should want the dollar the next day.<\/p>\n
\u201cWe want the dollar several months ago when you got 1.2 billion, and it is rising. Do you get it? Don\u2019t lose out when you need money to run your business. Of course, I discourage people from speculatively buying their dollar when they don\u2019t need it. But if you need it for your business, by all means, go ahead and do it. Don\u2019t listen to him, because it will not happen,\u201d he stated.<\/p>\n
But speaking at a joint Ministry of Finance, Bank of Ghana and the International Monetary Fund (IMF) press conference in Accra on Monday July 1, Dr Amin Adam said \u201cThe problem with the cedi, can also largely be attributed to speculations. Therefore, while we have been making efforts to influence market sentiments positively. We also know that some other people are inciting speculations.<\/p>\n
\u201cWe have had intelligence that people are deliberately inciting speculations. But we never got it too real, as we saw only two or three days ago when my good friend and my brother Hon. Adongo went out there urging people to buy dollars to do their business.<\/p>\n
\u201cAnd this was after I indicated at the Town Hall Meeting in London, that with all the policies we\u2019re implementing, with the flows that we\u2019re expecting from external sources, and with the completion of our debt restructuring, with our bilateral official creditors as well as our Eurobond holders. We saw the cedi becoming stronger and stronger, my brother went out there to say people should ignore Amin Adam and go and buy dollars to do their business.\u201d<\/p>\n
He added \u201cI think that this is not healthy for our economy, I think that we should all work together, whether we\u2019re the government or the minority. Because we are all stakeholders in this economy. So, we have a duty to our people to ensure that the economy is stronger for the benefit of all.<\/p>\n
\u201cMy friends on the minority side, I want to appeal to you to stop inciting speculations and to work with us, give us constructive criticisms, and ideas so that we can complement the ideas that we\u2019re already pursuing.\u201d<\/p>\n
<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
The Finance Minister and Member of Parliament for Karaga, Dr Mohammed Amin Adam,\u00a0 has accused the Minority in Parliament of fueling speculations on the Cedi. He urged the opposition lawmakers to provide constructive criticisms and ideas to the government to complement the ideas that are already being pursued. His comments come at a time when […]<\/p>\n","protected":false},"author":1,"featured_media":195407,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-195406","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n
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