General News of Wednesday, 6 August 2014


Don’t talk Ghana into crisis – Deputy Minister cautions

Deputy Minister for Trade, Kweku Ricketts Hagan is warning of dire consequence if critics of government continue to “talk Ghana into crisis”.

According to him such “negative perceptions” only paint a gloomy picture of the country’s economy to the international community.

Kwaku Ricketts Hagan who was speaking on Asempa FM’s Ekosii Sen programme Tuesday said “we are not over the cliff but we are unnecessarily taking down on our country for political expediency”.

He maintained that, the economy is not in crisis but rather facing challenges which need structural reforms.

Kwaku Ricketts Hagan said the economic situation is not as bad as some ‘pessimists’ want it to seem, adding, “there will be light at the end of the tunnel”.

Commenting on government's decision to go for an IMF bailout, the Deputy Trades Minister said “we believe it is the best for government”.

He indicated that IMF will assist government with technical and financial support “to enable us get our credibility back”.

The Deputy Trade Minister debunked claims that the IMF bailout will worsen the socio-economic conditions in the country.

He said they are now negotiating with the IMF on the conditionality after presenting their home grown solutions thus “those speculating are doing so without facts”.

Kwaku Ricketts Hagan said in spite of the economic challenges, “people are still coming into this country with investment”.

On the contrary, New Patriotic Party (NPP) Member of Parliament for Bibiani-Ahnwiaso-Bekwai, Kingsley Aboagye Gyedu said government should not blame the opposition for their “ineptitude and irresponsibility”.

He noted that business people and investors take economic decisions based on what they see hence do not need the NPP to tell them things have gone worse.

The Bibiani-Ahnwiaso-Bekwai blamed “Ghana’s economic predicament” on the fiscal indiscipline of government especially in 2012.

Kingsley Aboagye Gyedu said it is obvious the Mahama-led administration lack the experience to manage the economy hence no matter the propaganda spin government put on the economic crisis, “Ghanaians will be the best judges”.