AGI wants current state of DDEP reviewed

 

AGI wants current state of DDEP reviewed

The Association of Ghana Industries (AGI) has affirmed its support for the International Monetary Fund programme to help bring stability to the economy.

It however expressed concern about the Domestic Debt Exchange Programme (DDEP), saying, though it acknowledges that this programme will allow Ghana to gradually reduce its debt-to-Gross Domestic Product (GDP) metrics towards sustainable levels, there are some key challenges that need to be addressed for the DDEP to yield the expected impact.

“The AGI membership constitutes businesses in 23 sectors, including banks, insurance companies and manufacturers across Ghana who play critical roles in the productive sector of the economy and therefore have strong interest in the implementation of this programme.

Chief Executive Officer for the Association, Seth Twum Akwaboah speaking to the media said, the AGI is concerned that the current state of the programme will impact the liquidity and solvency position of financial institutions and limit their ability to support the real sector of the economy, and this requires maximum attention.

According to him, for the liquidity, it envisages liquidity constraints the banks will face under the DDEP and its impact on business access to finance, noting, it is important to stress that in the wake of potential challenges, the productive sectors of the economy are not denied access to much needed funds to increase their production.

.…TWUM AKWABOAH….

 

If the economy collapses, it will be Ken Ofori-Atta's fault - Sophia Akuffo

Former Chief Justice under the Nana Addo Dankwa Akufo-Addo-led government, Sophia Akuffo appears to have lost her cool over a pending decision by Finance Minister, Ken Ofori-Atta to include pensioners in the Domestic Debt Exchange Program.

Sophia Akuffo called out the finance minister over the decision which she described as ‘wicked’ and ‘unlawful’ when she joined pensioners at the finance ministry today, Friday, February 11, 2023, to picket.

Speaking in an interview with the media, Sophia Akuffo said it is unfair for government to sacrifice the hard-earned monies of pensioners, most of whom depend on their investments to survive after retirement.

She sees no reason why they are being given an option to ‘take it or leave it’ when they made those investments on a contract basis.

These are some key points Sophia raised in her argument about the inclusion of pensioners in the DDEP:

We’ve been through times when all your savings become nonsense because of some government policy. Over the years, bit by bit, people have become more confident in the economy, in investments.

…..JUSTICE SOPHIA……

 

No need to scream or picket over DDEP, self-exempt now – Senyo Hosi

The Convener of the Individual Bondholders Forum (IBF), Senyo Hosi, says individual and pensioner bondholders have the sole responsibility to exempt themselves from the government’s Domestic Debt Exchange Programme (DDEP).

Mr. Hosi noted that it’s needless for the individual bondholders to scream or picket when they can self-exempt from the programme.

He was reacting to remarks made by former Chief Justice Sophia Akuffo who today, January 10, 2023, joined a group of pensioners to picket at the Finance Ministry, to demand their exemption from the DDEP.

The former Chief Justice described the DDEP as “sheer wickedness and outright disrespect to the elderly who have sacrificed their lives for the development of the nation.”

But speaking to the media Mr. Hosi asserted, “I can relate to her concerns. It’s unfair, I’m equally concerned that someone of her status has very little confidence in the one who is family, and then also someone she has worked with for the past few years”.

He stressed, “I sometimes get lost as to what the pensioners are looking for. We are looking for a total exemption, the Finance Minister, Ken Ofori-Atta has categorically said we can self-exempt. So what exactly are we looking for again from the Finance Minister? You have the decision to choose, I think individuals and pensioners have the option to stay out or not. If the deal doesn’t work for you, exempt, if it does fine. I don’t think picketing, shouting and screaming will solve that problem. I will encourage all pensioners to self exempt, there’s no need to scream, self-exempt now”.

…SENYO HOSI….

 

Turkey/ Syria earthquake: Parliament summon Foreign Affairs Minister

1^st Deputy Speaker, Joseph Osei Owusu, aka, Joe Wise has summoned the Foreign Affairs and Regional Integration Minster, Hon. Shirley Ayorkor Botchwey to know the current state of Ghanaians who have been affected by the earthquake.

He made this known after the Member of Parliament for Ketu North, Hon. James Klutse Avedzi addressed the floor of Parliament.

According to him, “Mr. Speaker I also want to propose that I think the Minister for Foreign Affairs and Regional Integration Minster should be invited to the house at least to brief the house on Ghanaians living in Turkey”.

He added that, they know for sure that, Christian Atsu has been reported with conflicting report but there are other Ghanaians who are involve.

More than 22,000 people have been killed and tens of thousands injured after a magnitude 7.8 earthquake struck Turkey and Syria on Monday, officials said.

Rescue workers are racing against time to pull survivors from the rubble.

….HON. KLUTSE…..

1^st Deputy Speaker, Hon. Joseph Owusu also said, “Turkey is a friend of Ghana that we’ve been doing so many things to support Ghana, again there’s a lot of trade between Turkey and Ghana so some Ghanaians who are trading in Turkey may be at risk hence it is important to get clear view of what is happening there hence calling the Foreign Affairs and Regional Integration Minster is a step in the right direction.

…JOE WISE….

 

NPP primaries: "My records are there" - Alan Kyerematen

Immediate past Minister for Trade and Industries, Hon. Alan Kyerematen is poised of becoming the next flagbearer for the New Patriotic Party (NPP) ahead of the 2024 general elections.

Speaking on Ho based Cool FM in the Volta region, Alan Kyerematen said, his records are there in the party for anyone to see.

According to him, he has served the party since 1992 when the party was establish adding that, he was a member of the National Executive Committee (NEC), member of the National Council, member of the Finance Committee of the party.

He added that, he had been part of the leadership of the party since its establishment revealing that, he is a member of the founding members and the first Chairman of a group called “The Youngest Executive Forum”.

Alan Kyerematen on Thursday, February 9, 2023, received a rousing welcome when he visited Ho, the Volta Regional capital, as part of his National Engagement tour.

The milling crowd poured onto the streets of Ho to wave and cheer him on with chants of 'No Alan, No Vote' and placards extolling his virtues such as 'The Unifier,' 'The Only Hope for 2024', Alan welcome Home,' were ample indication of their choice of who was to lead the NPP to the 2024 general elections.

…ALAN KYEREMATEN….