Depreciation of The Cedi: Why We Should Panic
Opinion, Politics

Depreciation of The Cedi: Why We Should Panic

Development Economist Dr. Michael Ayamga Adongo has said, has maintained that when cedi depreciated under President Mills and Mahama, there was more external confidence in the economy than NPP Akufo-Addo’s administration Read the full details below: When the Cedi depreciated under Mills & Mahama, there was external confidence in the economy. We could walk into the capital markets to borrow at competitive rates because Ghana was not rated in the Cs with negative outlook. Investors were willing and investing in the economy. In fact, the depreciation occurred because oil companies and multinationals were demanding dollars to set up their production. Such PRODUCTIVITY-TRIGGERED DEPRECIATION OF THE CEDI WAS GOOD OMEN AS IT USHERED IN THE FIRST DOUBLE DIGIT GROWTH OF THE ECONOMY IN RECENT HISTORY. At that time, government was not broke and seeking to directly withdraw money from people’s wallets. We had not used our natural resources to collateralize loans. We had not exceeded the disaster threshold of 77% debt to GDP ratio. Above all, there was social justice. Young men and women in our Universities had hope. Hope that they had decent chances at landing jobs regardless of his surnames and political connection. Today we have the exact opposite. The Cedi is depreciating because we have depleted our resources and owe so much. The Cedi is depreciating because the outlook of our economy is negative. The depreciation we see with the Cedi today is not caused by the usual cyclical dollar demand by merchants to stock for Christmas or at the end of the financial year when multi-nationals are repatriating profits earned in Cedi. In the last four years, the good management of previous governments made it possible for this government to go to the capital market, borrow and use the dollars to shore up the Cedi and then go about tooting the titles of members of their economic team. The least said about social justice and equity the better. Today young people are made to spend their savings on forms and queue for weeks in search of jobs that have already been distributed by the ruling elite to their families, friends, wives and girlfriends. As my Senior brother Prof. Raymond Atuguba graciously said, “Ghana is broke”. Graciously because we are not just broke. Ghana is broke with a bad reputation so she can’t borrow. There is a reason to worry. There is reason to lose sleep. Thanks to the crack economic team. Apexnewsgh.com/Ghana/Ngamegbulam Chidozie Stephen  Please contact Apexnewsgh.com on email apexnewsgh@gmail.com for your credible news publications. Contact: 05555568093

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NDC Cadres want IGP, Interior Minister, Kan-Dapaah, Nitiwul sacked over 26 crimes recorded in two weeks
Politics

NDC Cadres want IGP, Interior Minister, Kan-Dapaah, Nitiwul sacked over 26 crimes recorded in two weeks

The Cadres of the National Democratic Congress (NDC) has said the only way the rising cases of crime in the country can be fought is to sack the Inspector General of Police, Interior Minister, National Security and the Defence Ministry for doing nothing. The group has listed 26 crime cases that have been recorded in the past two weeks in the country, an alarming situation that needs complete reform in the security set-up. The NDC Cadres are asking the ruling New Patriotic Party (NPP) government to replace the security leadership with more efficient and confident people who can employ modern ways to tackle crime tactically. “We call on the Akufo Addo / Bawumia government and their security advisors to as a matter of urgency call a crisis meeting to find immediate workable solutions and sack the IGP, National Security Minister, Interior Minister and the Defense Minister. The country needs fixing and it must be fixed NOW,” a release from the NDC Cadres noted. According to the group, it is clear that the country is witnessing regime security as opposed to national security as a result of leadership failure. The Cadres added that under the current NPP administration, Ghana has witnessed a surge in government-sponsored terrorist activities such as the Ayawaso West-Wuogon Constituency Parliamentary Bye-election, the Techiman South election shootings, the Ablekuma Central collation centre shooting, cross-border crimes, including arms peddling and weapons proliferation in Ghana, human trafficking, serial and contract killings, kidnapping and armed banditry as some of its major national security shortfalls that the government must urgently tackle to ensure safety and security of the citizenry. Raising red flags to the alarming rate of crime recorded this year particularly in June, the Cadres of NDC have made recommendations to government which they believe will help solve the insecurity in the country. Aside replacing the State Security leadership with more efficient and competent persons, they want recruitment into the security services to be transparent and not based on party and tribal lines. Find below the full release from the group: PRESS RELEASE To: All Media Houses We the Cadres of the National Democratic Congress (NDC) have observed with concern and disappointment the rate of deterioration of the state of security in the country. Under this NPP administration, Ghana has witnessed a surge in government sponsored terrorists activities, such as the Ayawaso West-Wuogon Constituency Parliamentary Bye-election, the Techiman South election shootings, the Ablekuma Central collation centre shooting, cross-border crimes, including arms peddling and weapons proliferation in Ghana, human trafficking, serial and contract killings, kidnapping and armed banditry as some of its major national security shortfalls that the government must urgently tackle to ensure safety and security of citizenry. It is clear that the country is witnessing regime security as opposed to national security and surge in crime is as a result of leadership failure. Ghanaians now live in fear much about the situation.pronouncements that have the effect that they have given up and cannot do anything about the crime situation in the country. The threat of terrorism and violent extremism in Ghana has heightened discourse across the nation. Given the southward spread of extremist groups in Burkina Faso and the porous nature of our borders, there are concerns over cross border incursions into Ghana. Violent crime is on the rise, including broad daylight armed robberies across the country. Nationwide, violent crime results in more than 500 deaths per year. Criminals frequently carry weapons; the most prevalent are locally manufactured pistols, rifles, and shotguns, also a number of weapons are smuggled into the country while our border security personnel are not able to do much about the situation. Reliable sources estimate that there are 1.2 million unregistered guns in Ghana. The recent violence at the Ayawaso West-Wuogon Constituency Parliamentary Bye-election in January 2019 linked to State sponsored terrorist groups, such as Invisible and Delta Forces suggests the gravity of the threats it poses to Ghana’s democracy. Unfortunately, these groups have been absorbed into the National Security apparatus. The ability of these terror groups to seize public assets and interfere in court proceedings to free their colleagues from prosecution is also manifestation of the threat they pose. It indicates an attempt by the groups to entrench themselves as a semi-autonomous institution that threatens the legitimacy of the State. Recent crimes in Ghana – June 2021 The number of crimes that have occurred within two weeks of June 2021 are alarmingly very scary and this demands immediate action from government to curb the situation and ensure safety and security of our country. Some of the crimes within the last two weeks listed below: Armed robbers raid forex bureau close to Police headquarters CCTV footage of 23-year-old woman murdered by friend Four arrested over attacks on motorists at GIMPA Wife of KK Sarpong’s aide shot dead Woman, aged 27 stabs partner to death at Abesim Notorious armed robber grabbed at Assin Fosu Bullion van robbery and the killing of a Police Officer and a civilian The two police officers who robbed Indian businessmen of cash in a hotel Woman ‘kills’ son at Taifa 30-year-old man killed over GH₵10 debt Trader jailed eight years for child stealing Two suspected kidnappers arrested at Abeka Lapaz 17-year-old TV ‘thief’ beaten to death at Barekese Multiple defilements across the country on the increase Robbery attack at Paga leaves one dead, another injured 19 Burkinabes busted for unlawful entry into Ghana Retired Police officer, 72, arrested for defiling 6-year-old granddaughter in Central Region Kumasi: Suspected taxi driver killer grabbed 3 galamsey operators jailed 45 years by Takoradi Circuit Court Prime suspect in murder of 24-year-old-lady in Koforidua commits suicide Car snatcher allegedly ties taxi driver to the back of his car and drags him to death One killed, two others injured in robbery attack 27-year-old hairdresser stabs lover to death for being denied grasscutter soup 64-year-old man allegedly shoots himself in room at Ebiram Notorious Highway robbers block road, gun down woman Police arrest four suspected narcotics dealers in

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