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Dr. Mohammed Amin Adam, the Minister of Finance, has strongly advised the public to abstain from any speculation regarding the current problems facing the cedi and to avoid taking any measures that would cause the currency to become even more unstable.
This caution follows remarks made by Bolgatanga Central Member of Parliament Isaac Adongo, who suggested that businesses buy dollars in spite of the Minister’s claims that the cedi will soon stabilize.
Dr. Amin Adam criticized Mr. Adongo’s remarks at a joint news conference with representatives from the Bank of Ghana and the International Monetary Fund (IMF), restating the government’s resolve to stabilize the currency rate.
“The problem with the cedi can also largely be attributed to speculations. While we have been making efforts to influence market sentiments positively, some people are inciting speculations,” Dr. Amin Adam stated.
“We have had intelligence that people are deliberately inciting speculations. This became evident when my good friend and brother, Hon. Adongo, urged people to buy dollars for their business after I had indicated at the Town Hall Meeting in London that the cedi would become stronger with the policies we are implementing and the financial flows we are expecting,” he indicated.
Dr. Amin Adam emphasized that the minority must provide constructive criticism, characterizing the encouragement of rumors as “unhealthy” for the economy.
This, in my opinion, is detrimental to our economy. Since we are all stakeholders in this economy, whether we are members of the government or not, we should cooperate. He made an appeal, saying, “We owe it to our people to make sure the economy is better for the benefit of everybody.
“My friends on the minority side, I want to make an appeal to you to stop inciting rumors and to work with us,” he went on. Please provide us with ideas and constructive criticism so that we can expand on the concepts we are currently exploring.
Source: Ghanatodayonline.com
