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Business News of Saturday, 22 October 2022

Source: www.ghanaweb.com

It's obvious Akufo-Addo won't fire you, just resign - KSM to Ofori-Atta

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

Television show host, Kwaku Sintim-Misa, popularly known as KSM has urged Finance Minister, Ken Ofori-Atta to as a matter of urgency resign for another financial manager to take over the affairs of the economy. He averred that President Nana Addo Dankwa Akufo-Addo has refused to sack Ofori-Atta despite calls by a section of Ghanaians for him to be fired. KSM in a tweet sighted by GhanaWeb opined that it's about time a competent financial manager takes charge to stabilize the wobbling economy. "Advice to Ken Ofori-Atta. Bra Ken, it is obvious the President cannot and will not fire you. Please do him and GH a favour and respectfully resign for a competent financial manager to take charge. I am sure that the financial markets will react positively to the news," his tweet read. It would be recalled that Bloomberg on Thursday, October 20, 2022, reported that Ghana’s local currency – the cedi - depreciated in value by 9.6%. This, the news portal said, makes the total loss of the cedi in 2022 almost 52%, the highest recorded in 22 years. The free fall of the cedi now places the currency at the 148 position of worst-performing currencies in the world. Meanwhile, Ghana is targeting an amount of $3 billion over a three-year period from the International Monetary Fund (IMF) once an agreement on a programme is reached. The new amount requested as a loan is double the government’s initial target of $1.5 billion. The IMF programme is aimed at restoring macroeconomic stability and safeguarding debt sustainability among many others. Read KSM's tweet below;

Advice to Ken Ofori-Atta. Bra Ken, it is OBVIOUS the President CANNOT and WILL NOT fire you. PLEASE do him and GH a favor and respectfully resign for a COMPETENT FINANCIAL MANGER to take charge. I am sure that the financial markets will react POSITIVELY to the news. ????????— Kwaku Sintim-Misa (@KSM_Kwaku_Misa) October 22, 2022 Watch the latest episode of BizTech below: ESA/KPE