Business News of Tuesday, 25 July 2023

Source: www.ghanaweb.com

Calls to remove Ofori-Atta are now irrelevant - Deputy Majority Chief Whip

Finance Minister, Ken Ofori-Atta Finance Minister, Ken Ofori-Atta

The Second Deputy Majority Chief Whip, Habib Iddrisu, has stated that calls to sack the Minister of Finance, Ken Ofori-Addo are no longer relevant.

According to him, the reasons for the calls for the head of the Minister have been dealt with to some extent.

These issues included the rapid depreciation of the cedi, and increasing inflationary pressures among other macroeconomic indicators which sent Ghana into an economic crisis and sought an IMF bailout.

“This is not something that I don’t think we need to comment on. It has been abandoned. As of December, last year, inflation was around 54% which has been brought down to 42%, and trying to stabilize the cedi that was about GH¢14 to GH¢15 to a dollar as of December last year which has now come to GH¢11 and GH¢12 over the past three months. That is what we are looking at. What you are talking about now is definitely irrelevant” Habib Iddrisu said.

The Minister of Finance, Ken Ofori-Atta, faced intense pressure last year when the country was plunged into a dire economic crisis.

Members of Parliament of the NPP, therefore, asked the President to sack the Minister.

However, the MPs noted that the President had requested that the minister be allowed to conclude the IMF negotiations before any decision is taken.

SSD/MA

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