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Commentary |
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Press Release
Office of Alan Kyerematen
October 13, 2014
THE GOVERNMENT'S
STABILIZATION OF THE CEDI IS ARTIFICIAL –
ALAN KYEREMATEN
Alan Kyerematen has said that the
government's ‘home-grown’ policy which has
in recent times resulted in the
stabilization of the Ghana cedi is not
sustainable. He predicted that the cedi will
soon start depreciating against the major
currencies again.
He said, “The government has gone to borrow
$1.5billion with our cocoa produce and also
raised $1billion through a Eurobond in order
to shore up the cedi, however, what they
forget is that, these monies have to be
repaid with interest. The inflow of the
$2.5billion into the economy will only
create an artificial stabilization of our
currency, and the cedi will soon have to
chase the dollar once again because we will
have to pay back the loan facilities with
interest”.
Mr Kyerematen made these assertions during a
meeting with delegates at Techiman in his
bid to lead the New Patriotic Party (NPP) as
its presidential candidate in the 2016
general elections.
He added, “The only way to save the Ghana
cedi is through export. Government must as a
deliberate matter of policy, invest in the
production of additional cash crops aside
cocoa and also add value to these raw
materials for export in order to generate
foreign income into the country”
“We must also identify key businessmen and
industry players and adequately support them
to boost their capacities to export their
produce in larger scales”
“As Minister for Trade, Industry and PSI, we
were able to identify and implement some of
these policies. If the current government
had continued with some of our initiatives,
we would have become one of the major
exporters of cassava and palm oil, aside
cocoa, which would have generated a lot of
foreign currency for the country”, he
stressed.
Mr. Alan Kyerematen asked the delegates to
vote for him to lead the party and country
because he has the capacity, skills and
experience to do the job as President of
Ghana in order to restore the economy and
alleviate the sufferings of Ghanaians.
Chief Mohammed
Obosu
Press Aide to Alan Kyerematen
Office of Alan John Kyerematen
Number 57, Airport Residential Area
Accra- Ghana
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GNPC TO BLOW $1
BILLION LOAN?
Release, Oct 13, Ghanadot - AFAG is
distressed and totally devastated that in the midst
of all the monies that have accrued to GNPC, the
management is seeking to contract a One Billion
Dollar (USD $1 billion) loan for some amorphous,
vague and non-specific projects. This has probably
become the new strategy the corrupt Mahama led
government is using to dodge the public and
international criticism against its excessive
borrowing.........More
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Kenya's Ali Mazrui: Death
of a towering intellectual
BBC, Oct 14, Ghanadot - Mr Mazrui has been a
household name in Kenya and beyond....Born in the
Kenyan coastal city of Mombasa on 24 February 1933,
some 20 years before the Mau Mau uprising against
British colonial rule, he always portrayed himself
as a true patriot.......More
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Long after this Ebola
panic, Africa will still be paying the price
Guardian, Oct 10, Ghanadot - There’s
something unique about a virus that triggers deep
primitive fears of infection and contamination, and
renders us hostile and suspicious of our fellow
humans..... More
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Ebola may change
how aid is spent on healthcare in Africa
Reuters, Oct 14, Ghanadot - For more than a
decade richly-endowed global campaigns funded by
governments, philanthropists and celebrities have
poured billions of dollars into preventing and
treating individual diseases that long plagued
Africa.......More
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