{"id":8511,"date":"2024-05-19T00:12:47","date_gmt":"2024-05-19T00:12:47","guid":{"rendered":"https:\/\/sotnews.agency\/?p=8511"},"modified":"2024-05-19T00:12:47","modified_gmt":"2024-05-19T00:12:47","slug":"fixing-depreciating-cedi-must-be-urgent-to-you-than-securing-new-loans-ato-forson-tells-government","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=8511","title":{"rendered":"Fixing depreciating Cedi must be urgent to you than securing new loans \u2013 Ato Forson tells government"},"content":{"rendered":"
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\n \t<\/i> Read Time:<\/span>2 Minute, 23 Second <\/div>\n\n <\/div>

The Minority Leader, Dr. Cassiel Ato Forson has criticised President Akufo-Addo over the emergency parliamentary session which was at the request of the Majority caucus on Friday, May 17.<\/p>\n

He argued that there was no genuine emergency warranting the recall of Parliament to approve a $150 million loan from the World Bank.<\/p>\n

In his address at the resumption of parliamentary sitting, Dr. Forson, who previously served as Deputy Finance Minister, stated that the approval of the loan was unnecessary.<\/p>\n

He alleged that the government had already misused funds from the first phase of the loan that had been approved earlier.<\/p>\n

Dr. Forson emphasised that the primary concern for the Akufo-Addo administration should be the alarming depreciation of the Ghanaian Cedi.<\/p>\n

The Minority Leader pointed out that the rapid decline in the value of the local currency is causing severe economic challenges, including the collapse of businesses and rising unemployment.<\/p>\n

The Minority Leader expressed his concern over the continuous devaluation of the Cedi, which he said is driving up the cost of goods and services across the country.<\/p>\n

This, according to him, is putting immense pressure on ordinary Ghanaians and worsening their living conditions.<\/p>\n

He urged the government to focus on stabilizing the Cedi rather than seeking additional loans for what he termed as consumption.<\/p>\n

Dr. Forson stressed the need for the administration to prioritise economic stability and the well-being of its citizens.<\/p>\n

The Ajumako-Enyan-Essiam lawmaker reiterated that addressing the free fall of the Cedi should be the government\u2019s most urgent task.<\/p>\n

He warned that failure to do so would continue to exacerbate economic hardships and undermine the nation\u2019s financial health.<\/p>\n

Dr. Forson called on the government to reassess its priorities and take decisive action to stabilise the economy, rather than accumulating more debt.<\/p>\n

He urged a shift in focus from borrowing to implementing policies that would strengthen the local currency and support sustainable economic growth.<\/p>\n

\u201cHow is the approval of US$150 million loan an urgent issue, when US$200 million for phase one approved by this House has been misapplied and not accounted for?\u201d<\/p>\n

\u201cHow is it an urgent matter for Parliament to be summoned from recess to approve a-US$150 million loan agreement at a time that this government is granting questionable US$450 million tax waiver?\u201d<\/p>\n

\u201cTherefore, we want to make the point clear that there is no urgent matter before the House to warrant this recall.\u201d<\/p>\n

\u201cRt. Hon. Speaker, the urgent matter facing the people of Ghana, particularly businesses, traders and households is the free fall of the Cedi. This is a matter that concerns everyone. The depreciation of the Cedi should be an urgent issue for all of us,\u201d he said.<\/p>\n

The post Fixing depreciating Cedi must be urgent to you than securing new loans \u2013 Ato Forson tells government<\/a> first appeared on 3News<\/a>.<\/p>

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The Minority Leader, Dr. Cassiel Ato Forson has criticised President Akufo-Addo over the emergency parliamentary session which was at the request of the Majority caucus on Friday, May 17. He… <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_2277560469115098_106292521332774":"","twitter_aToxNzczMzI3Njk4OTg4ODUxMjAxOw==_1773327698988851200":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[12],"tags":[],"class_list":["post-8511","post","type-post","status-publish","format-standard","hentry","category-business"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/8511","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8511"}],"version-history":[{"count":0,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/8511\/revisions"}],"wp:attachment":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}