Dr Cassiel Ato Forson, the Minority Leader in Parliament has called on President Nana Akufo-Addo to direct his appointees who are keeping foreign exchange in their homes to release them.
The Minority leader during a press conference on Wednesday, May 15, emphasized that the directive will help stabilise the currency and safeguard the economy as Ghana’s Cedi depreciates in the international market.
“We call on the Akufo-Addo government to among others order his appointees to release the FX stashed in their homes,” he said.
Ajumako-Enyan-Essiam legislator further criticized the government’s decision to borrow GH¢7 billion from the treasury bills market to settle contractor payments that were not accounted for in its budgetary allocations.
“They are on an expenditure spree, spending money as if there is no tomorrow. In the last few days, we are aware that they have paid approximately GH¢7 billion to contractors, off-budget contractors, off-budget expenditures, GH¢7 billion.”
“They borrowed from the T-Bill market, so they borrowed the money from ordinary Ghanaians then they paid this money to these contractors, and the contractors are also not certain so they have engaged in currency substitution.”
“The contractors got cedis and went and changed it into US dollars and kept the money because of a lack of confidence in the economy.”
