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Tag: Ofori-Atta

  • Govt unlikely to present 2023 Budget due to IMF talks – Majority leader

    Majority leader in Parliament, Osei Kyei-Mensah-Bonsu has hinted at a postponement of the 2023 Budget Statement and the Economic Policy reading scheduled to take place on November 15, 2022.

    According to the Majority leader, a new date may have to be set as the government is yet to conclude its negotiations with the International Monetary Fund (IMF).

    Speaking to the media, the Suame Member of Parliament noted that a delegation from the Fund is expected in the country in the next few weeks to continue its negotiations.

    “But if you want to do tidy work, you may be required to have some space to be able to do a tidy job. Because as you all know, these are not normal times. Nothing should be done which will eventually become wishy-washy. They want to have the best to be able to uplift us from where we are as a country. And that being the case, if we want to do a thorough job, I think there will be too much pressure if it has to be done on the 15th,” he said on Thursday, November 3, 2022.

    “We want more time to interrogate the principles underpinning the budget,” Mr Osei-Kyei-Mensah added.

    He posited that this action will not be in breach of the procedure since the constitution provides November 30 as the deadline for the presentation of the budget statement.

    However, Section 21(3), of the Public Financial Management Act, 2016, ACT 971, states that “the Minister shall, on behalf of the President, lay before Parliament not later than the 15th of November of each financial year, estimates of the revenues and expenditure of the Government, the annual budget, for the ensuing financial year.”

    Meanwhile, Mr Kyei-Mensah-Bonsu, who doubles as the Minister for Parliamentary Affairs, will engage Finance Minister, Ken Ofori-Atta on the possible new date and revert with a communique on whatever conclusion is reached.

    Budget thrown out of gear

    President Akufo-Addo admitted on Sunday night that the 2022 budget has already been thrown out of gear.

    While addressing the nation on the state of the economy, the President said he is aware of the increase in the cost of living in the country and the economic difficulties facing Ghanaians.

    According to him, the economic woes have rendered the country’s 2022 budget useless.

    “For us, in Ghana, our reality is that our economy is in great difficulty. The budget drawn for the 2022 fiscal year has been thrown out of gear, disrupting our balance of payments and debt sustainability, and further exposing the structural weaknesses of our economy.

    “We are in a crisis, I do not exaggerate when I say so. I cannot find an example in history when so many malevolent forces have come together at the same time,” the President said.

  • LIVESTREAMING: Akufo-Addo addresses Ghanaians on state of the economy

    President Akufo-Addo is formally addressing the Ghanaian citizenry on the true state of the economy, which is reported to be in tatters.

    He is expected to further elaborate the current challenges, causative agents and what is being done to resolve the challenges.

    Ghanaians have been hit with increased prices in fuel products and transport fares as the cedi finds its feet among world trading currencies.

    Due to the many issues, some Ghanaians have called for the sacking of Finance Minister, Ken Ofori-Atta, who is mandated to oversee to the smooth running of the economy. President Akufo-Addo is however yet to give into the demands.

    It is expected that he will provide further justification as to why Mr Ofori-Atta remains at post.

     

  • Minority’s attempts to remove Finance Minister won’t materialize – NPP

    The New Patriotic Party (NPP) believes moves by the Minority in Parliament to have Finance Minister, Ken Ofori-Atta removed from office is an exercise in futility.

    It says, the Majority caucus will also not support the motion of censure against the Minister as filed by the Minority.

    A Deputy Director of Communications of the NPP, Kamal Deen Abdulai described attempts for the impeachment of the Finance Minister as ‘much ado about nothing’.

    “The Speaker admitting that motion is very predictable and it doesn’t mean that the conditions for admitting such a motion to be full will be met.”

    “I am confident this motion for a vote of censure against Finance Minister is much ado about nothing. I can say emphatically that, the Minority will not have the support of the Majority to pass a vote of censure for the Finance Minister to be removed”, he said on Citi FM/Citi TV‘s The Big Issue.

    Commenting on the Majority caucus back track over its demands for the Finance Minister’s dismissal, after meeting President Akufo-Addo, Kamal Deen Abdulai said there is nothing wrong with the NPP legislators softening their stance.

    “It’s trite knowledge, some Majority MPs called for the head of the Finance Minister. Also, after engagements they have changed their stance that some time be given the Minister agreeing that they are not going to pursue this matter once the President has spoken to them and the unification we are seeking has been seen.”

    About 80 New Patriotic Party (NPP) MPs this week demanded the sacking of Finance Minister, Ken Ofori Atta over the current economic hardships.

    They threatened to boycott government business in parliament should the president fail to fulfill their demands.

    The group however accepted President Akufo-Addo’s request asking them to allow the Finance Minister some time to finish negotiations with the International Monetary Fund (IMF).

    The majority caucus in Parliament called for the dismissal of Mr. Ofori-Atta, and the Minister of State at the Finance Ministry, Charles Adu Boahen.

    Their colleagues on the other side – that’s the Minority have also filed for a motion of censure against the Finance Minister.

    On the same program, Tamale Central Member of Parliament (MP), Murtala Mohammed revealed his plans of commencing processes to impeach the President Akufo-Addo.

    “If we think that, it is justified to call for the removal of the Finance Minister, let us not be hypocrites. It is equally justified to call for the removal of the President. I am assuring that, I have started talking to some of my friends to ensure that that we initiate a motion to ensure that the President is impeached. I have started [the process]”, the legislator said.

    Source: Citinews

  • GH¢1.3 billion of Ghana’s oil revenues missing – Ablakwa cites A-G’s report

    Samuel Okudzeto Ablakwa, a member of parliament for North Tongu, has drawn attention to unreported oil money from the 2021 Auditor-report. General’s

    Ablakwa used Page 10 of the report when he said that GH1.3 billion in revenue could not be accounted for.

    In a post on social media dated October 29, 2022, he stated, “The Auditor-General claims he cannot vouch for the “accuracy and completeness of income numbers” under Ken Ofori-Atta’s.

    His post continued: “Page 10 of the AG’s 2021 audit report on General Government reveals that whereas Ken’s ministry insists that our 2021 oil revenue (ABFA) was GH¢2,061,122,607.00, the Controller and Accountant-General reports GH¢3,368,095,788 in its statement of financial performance. That represents a staggering discrepancy of some GHS1.3billion.

    “Ken Ofori-Atta should definitely go and quickly he must; however, when he’s gone, we will need a major forensic probe into his entire tenure,” the Ranking Member on Parliament’s Foreign Affairs Committee stressed.

    The Finance Minister has come under sustained pressure to be relieved of his post with two significant issues raised against him internally and from without.

    A group of 80 MPs held a press conference demanding Ofori-Atta’s removal as Minister citing the economic downturn the country is grappling with.

    The president has since exacted a deal with the Majority Caucus in Parliament to stand down the request and allow Ofori-Atta time to undertake two crucial tasks before a decision on him leaving is taken.

    On the same day, October 25, the Minority Caucus filed a vote of censure motion against the embattled Finance Minister seeking to remove him through relevant Parliamentary processes.

  • Government will conclude IMF negotiations and incorporate deal in 2023 Budget – Habib Iddrisu

    Second Deputy Majority Chief Whip, Habib Iddrisu says government will complete negotiations with the International Monetary Fund (IMF) before the 2023 Budget will be presented to Parliament.

    The Tolon MP is convinced that government will secure a bailout for the country before November 15.

    Speaking on Newsfile, Saturday, he said due to the confidence and trust imposed by the IMF in Akufo-Addo’s government, negotiations have been at a fast pace to secure a programme for the country.

    “The IMF has trust and confidence in this government and the President for that matter…At the end of the day, the 2023 Budget will be presented and I am very convinced from where I sit that the negotiations with IMF will be concluded by then and will be incorporated in the budget.

    “I am convinced that by the 15th of November the budget that will be presented in Parliament will have incorporated in it the IMF programme,” he said.

    This, he said would happen because of the “credible people at the Finance Ministry”.

    Meanwhile, the lawmaker has debunked claims that the government provided inaccurate macroeconomic figures to the International Monetary Fund (IMF).

    The Tolon MP argued that the IMF with such credibility and credentials could not have accepted just any macroeconomic figures from the Finance Ministry.

    Habib Iddrisu was reacting to allegations on Newsfile by Former Deputy Finance Minister, Mona Quartey that the Economic Management provided incorrect macro-economic numbers to the IMF.

    “We need to respect the institution IMF, especially since due diligence is done by them. They are a credible organization, they will not just sit down and say that the government of Ghana is giving them wrong information and they just take information like that.

    “It is never true that government has provided them with wrong information,” he said on Newsfile, Saturday.

    Source: MyJoyOnline

     

  • We are jokers to think Ofori-Atta’s sack will curb Cedi depreciation – Nhyiaeso MP

    The removal of Ken Ofori-Atta as finance minister, according to Stephen Amoah, a member of parliament for Nhyiaeso, may not stop the local currency’s free fall against important trading currencies like the US dollar.

    In an interview with Accra-based Metro TV, he claimed that anyone who believe that the Cedi will appreciate as a result of the ouster of Ofori-Atta are “jokers.”

    The legislator claimed that because the nation’s economy was heavily dependent on imports, it had not been robust for more than 40 years.

    Stephen Amoah was responding to a question premised on calls for Ofori-Atta’s sack and Speaker Alban Bagbin’s comment that the Cedi was appreciating against the dollar as a result of motion filed by the Minority side of Parliament for a vote of censure against Ofori-Atta.

    “So right now, if we sack the finance minister, dollar will come to GH₵5? We are jokers as a country. When you come to finance and economics, there is nothing like may be. It’s lazy man’s approach.

    “We need to accept the fact that our economy hasn’t been strong for over 40 years. We run something we call negative effective tax rate country. Monies from government to the households and monies that government gets from households…the monies going to households are always higher than what we get as revenue,” the MP said.

    President Akufo-Addo has in recent times come under pressure to reshuffle or sack some of his ministers particularly Ken Ofori-Atta over worsening economic conditions under his watch.

    However, the president has rejected reshuffle calls insisting that his ministers are performing well.

    On October 25, some NPP MPs organized a press confidence to demand the dismissal of Ofori-Atta and the Minister of State at the Ministry of Finance, Charles Adu-Boahen.

    The group said failure by President Akufo-Addo to heed to their call will mean they will not pursue government business in Parliament.

    Following this, the president held meetings with the MPs where it is reported that he has appealed to them to allow Ken Ofori-Atta in particular complete the IMF negotiations and also present the 2023 Budget and see to its appropriation.

    The Majority Caucus in a statement confirmed that the demands of the MPs will be ‘acted upon’ after the conclusion of IMF negotiations and the presentation of the Budget Statement and Economic Policy in November 2022, and the subsequent passage of the Appropriation Bill.

  • IMF has discovered lies in data from Economic Management Team – Mona Quartey alleges

    Former Deputy Finance Minister, Mona Quartey, has alleged that officials of the International Monetary Fund (IMF), have discovered some inaccuracies in the macro-economic figures presented by government’s economic management team.

    According to her, this revelation raises credibility issues which can potentially affect the outcome of Ghana’s ongoing engagements with the IMF.

    Contributing to discussions on JoyNews’ Newsfile on Saturday, the former NDC appointee, expressed her displeasure about the conduct of the economic management team.

    “There has to be a change of the economic management team. This team is no longer credible. This is a team that has lied, not only to the people of Ghana outside your party, but they’ve also lied to you [Akufo-Addo]. And the IMF has found them out. The numbers they gave; the macro-economic numbers they gave were not correct”, she said.

    Noting her reservations, the finance expert wondered why the President has refused to sack the members of the economic management team, whom she stressed, have failed in the discharge of their responsibilities.

    She added that the Finance Minister, Ken Ofori-Atta, has no business being at post, after supervising the present economic decline.

    The comments by Mona Quartey come at a time when scores of Ghanaians are making passionate appeals for the Finance Minister to be sacked.

    According to his critics, Mr Ofori-Atta has failed woefully and therefore has no business being at the helm of affairs of leading Ghana’s engagements with the IMF.

    Earlier this week, this posture was articulated by some 80 MPS from the ruling government who petitioned the President for Ken Ofori-Atta to be sacked.

    Addressing a pres conference on Tuesday, the MPs threatened that they will not support any government business, if the President fails to listen to their demands.

    But in a quick turn of events, the MPs, after meeting the President backed down on their calls, aftter the President implored them to allow the Finance Minister to finish the ongoing negotiations with the IMF and presentation of the 2023 Budget Statement.

    Touching on this development, Mona Quartey said she is disappointed by the posture of the said MPs.

    Meanwhile, Speaker of Parliament, Alban Bagbin, has admitted a motion of censure filed by Minority Members of Parliament to remove embattled Finance Minister, Ken Ofori-Atta.

    On Tuesday, the Minority filed a motion to that effect following the Majority MP’s demands to have the Finance Minister and the Minister of State in charge of Finance at the Ministry of Finance, Charles Adu Boahen dismissed.

    According to them, Mr. Ofori-Atta is incompetent and is to blame for the current economic woes of Ghanaians.

    Speaking to JoyNews, Minority Leader Haruna Iddrisu said they are hopeful by 10th November, they can conclude processes to remove the Finance Minister.

    Source: MyJoyOnline

  • Ofori-Atta still Finance Minister because Akufo-Addo wants it – Law Lecturer

    Law Lecturer at the University of Ghana, Clara Beeri Kasser-Tee has criticised President Akufo-Addo for failing to sack Finance Minister, Ken Ofori-Atta.

    Speaking on JoyNews’ Newsfile on Saturday, Clara Beeri Kasser-Tee wondered what President Akufo-Addo’s economic goals are, considering the current economic crisis and his refusal to sack Ken Ofori-Atta.

    According to her, the reason why President Akufo-Addo has not yielded to calls for him to dismiss the Finance Minister could be that he is not alarmed by the current state of the economy.

    “President should have considered whether considering the current economic situation, that is what he expected, because I would expect that he appointed the Finance Minister to help him achieve a certain goal for the economy.

    “In the economic circumstances that we are, is that the goal for which he brought the Finance Minister on board?” she asked.

    She said if the President has not dismissed Ken Ofori-Atta, the justification could be that Akufo-Addo is not perturbed about the current economic crisis.

    “If we are going to be quite objective, if the Finance Minister is not doing what the President wants him to do, the President has the power to fire him, if the President has not done that it is a reasonable conclusion to draw that this is what the President wants him to do,” the Law Lecturer stated.

    On Tuesday, October 25, 80 out of the 137 Majority MPs demanded the sacking of the Minister of Finance, Ken Ofori-Atta, and the Minister of State at the Finance Ministry, Charles Adu-Boahen citing their poor management of the country’s fiscal space.

    The MPs at a press conference held at Parliament blamed the duo for the delay in the ongoing International Monetary Fund programme negotiations that is expected to give the country a bailout.

    “We are by this medium communicating our strong desire that the President changes the Minister of Finance and the Minister of State at the Finance Ministry without further delay to restore hope to the financial sector and reverse the downward trend in the growth of the economy.”

    The group, led by the MP for Asante Akim North, Andy Appiah-Kubi, said the failure of government to heed to their demands will result in their boycotting of all government business.

    “Meanwhile, we want to serve notice, and notice is hereby served that until such persons as aforementioned are made to resign or removed from office, we members of the Majority Caucus here in Parliament will not participate in any business of government by or for the President by any other minister.

    “We hope that those of us [at] the backbench and members of the Majority Caucus will abide by this prayer. We are saying that if our request is not responded to positively, we will not be present for the budget hearing, neither will we participate in the debate.”

    Their move was applauded by the general public and other groups who have in the past called for similar action to be taken.

    This drew the attention of the President and summoned the NPP MPs for a meeting on the substantive matter.

    After the meeting with President Akufo-Addo, the MPs in a U-turn later acceded to the President’s appeal to allow Ken Ofori-Atta and Charles Adu-Boahen stay in office till after the IMF deal is sorted out and the 2023 Budget is presented to Parliament.

    In a statement released by the Majority Leader, Osei Kyei-Mensah-Bonsu, he said, the Minister of Finance and the Minister of State at the Finance Ministry will stay “until the conclusion of the round of negotiations with the International Monetary Fund (IMF) and the presentation of the Budget Statement and Economic Policy in November, 2022 and the subsequent passage of the Appropriation Bill after which time the demand will be acted upon.”

    Source: MyJoyOnline

  • We weren’t bribed to suspend ‘Ofori-Atta must go’ demand – Appiah-Kubi

    New Patriotic Party’s (NPP) Member of Parliament for Asante Akim Central Constituency, Andy Appiah-Kubi, has dismissed reports that he and other MPs were bribed to step down calls for Finance Minister, Ken Ofori-Atta to be sacked by President Akufo-Addo.

    Appiah-Kubi led a group of about 80 MPs earlier this week demanding the immediate removal of Ofori-Atta and Charles Adu Boahen, the Minister of State at the Finance Ministry.

    The MPs cited the struggling economy as the basis for their call threatening to boycott government business in the House if their call is not heeded to.

    After a meeting at the Presidency on Tuesday, it emerged that an agreement had been reached between the Majority Caucus and the President to have Ofori-Atta conclude the latest round of talks with the International Monetary Fund and to also present and see to the appropriation of the 2023 budget before ‘leaving.’

    That deal has seen members of the public thrash the MPs for having allowed themselves to be induced financially to back down on their call.

    This, Appiah Kubi stresses is incorrect.

    In an interview with Accra-based Joy News, he said: “I want one person, anybody associated with any such person who thinks that he can give money … If I hear anybody making an allegation, I will come out with information.

    “I will come out with information that we are beyond the bribes, our motivation is not the financial inducement, we don’t have money in our pockets but at least we have conscience. We will not reduce ourselves to that situation,” he added.

    He revealed that they had previously been approached with financial inducement but that they had repelled all such maneuvers.

    “Anybody who wants to attempt, be advised. We have sent this message to some people, they have sat upright. We have sound enough warning to people who want to influence members of our coalition with materialism, it won’t happen.”

    In a separate interview, the MP said he expected Ofori-Atta to be removed as Minister latest by December 31, 2022; by which time the budget appropriation would have been completed all things being equal.

    Source: Ghanaweb

  • 3 reasons Mahama can’t call for Ofori-Atta’s dismissal – Ken Agyapong lists

    Member of Parliament for Assin Central, Kennedy Agyapong, has criticised former President John Dramani Mahama over his call for the dismissal of Ken Ofori-Atta, Minister of Finance.

    According to him, Mahama should lack the impetus to make such a call stressing that he was not being fair to the minister.

    In an interview with Accra-based Citi TV, the MP in explaining his point indicated that Mahama has once been president and during his tenure, the country was plunged into darkness in what became known as ‘dumsor’.

    He stated that under the tenure of the former President, the country initiated moves to seek a bailout from the International Monetary Fund in 2015.

    He contended that John Mahama refused to sack his finance minister at the time, Seth Terkper.

    “President Mahama is not being fair to the finance minister. If you request that, I will agree because you have not been in that vehicle before. President Mahama was in the vehicle when the was so-called ‘dumsor’.

    “President Mahama was in the vehicle when he took us to IMF with his finance minister. Did he ever fire any finance minister? This is the question I ask. Ghanaians can ask for that and I agree with them hundred per cent. Elsewhere maybe the finance minister would have resigned himself. Well, it is up to him [to decide to honourably resign]. That I don’t have a problem with.

    “But the very person who is asking for this has been the before and he did nothing. The depreciation of the Cedi is my problem. That is the only challenge we have now that we need to address. But in 2014…have we forgotten? We went through the same under president Mahama. What did he do? The only solution is to take us to IMF,” Ken Agyapong said.

    Former President John Mahama while delivering a lecture titled ‘Building The Ghana We Want’, said it was untenable for Ken Ofori-Atta to remain at post with the claim that he should be allowed to conclude ongoing negotiations with IMF as well as read the budget statement scheduled for November.

    He was reacting to the latest move of some NPP MPs who organized a press conference on October 25 to demand the sack of the Finance Minister, Ken Ofori-Atta together with Charles Adu Boahene, Minister of State at the Ministry of Finance, failure which they will not pursue government business in Parliament.

    Following this, the president has held meetings with the MPs where it is reported that he has appealed to them to allow Ken Ofori-Atta in particular complete the IMF negotiations.

    The Majority Caucus in a statement confirmed that the demands of the MPs will be ‘acted upon’ after the conclusion of IMF negotiations and the presentation of the Budget Statement and Economic Policy in November 2022, and the subsequent passage of the Appropriation Bill.

    But commenting on the matter, Mahama could not comprehend how Ofori-Atta’s absence will affect the IMF negotiations as well as budget preparation.

    “I only got to know of a press statement by the Majority of a so-called compromise that the Minister will leave after he has completed the budget and the IMF negotiations…budget preparations and IMF negotiations are the results of teamwork, they are not the work of one individual. I fail to see how the absence of the Minister will affect the preparations of the budget and the negotiations with the IMF,” John Mahama explained.

    Source: Ghanaweb

  • Akufo-Addo to finally address Ghanaians on economic crisis this Sunday

    President Akufo-Addo will on Sunday, October 30, 2022, at 8PM speak to Ghanaians over the current economic hardships facing the country.

    Since Ghana’s economy turned sour, President Akufo-Addo has not officially addressed the nation.

    This left many, particularly members of the opposition party, National Democratic Congress (NDC) peeved, as they argued that the President must assume his mandate and provide hope to Ghanaians.

    Pressure group OccupyGhana urged the President to update the citizenry on the state of the economy and the general affairs of the country, as he did during the initial stages of the COVID-19 pandemic.

    “No one expects the President to physically halt the fall of the cedi or conjure inflation away. However, it is imperative in such times that Ghanaians get the reassurance that their elected leader is doing all he can and that he cares. The cedi is ‘burning’. The Ghanaian economy is in tatters. It is a disaster. Yet we do not see commanding leadership in this matter,” the group said.

    President Akufo-Addo is expected to speak on the calls for the dismissal of Finance Minister Ken Ofori-Atta as well as the country’s engagement with the International Monetary Fund.

    Under Mr Ofori-Atta’s watch, the country battles a high inflation rate of 37.2% as of September and a depreciation of the cedi.

    A dollar is currently trading at about GH14. Also, fuel prices have escalated and transport fares have been revised three times just this year.

     

  • Why sack Ofori-Atta and leave ‘incompetent’ Akufo-Addo – Blakk Rasta booms

    Radio presenter Blakk Rasta has waded into recent calls for the sacking of Finance Minister Ken Ofori-Atta by a bloc of ruling party lawmakers.

    In his view, there was no point going after Ofori-Atta alone especially when the man who appointed him stresses his continuous belief in his competence.

    Speaking on the October 25, 2022 edition of his show on Accra-based 3FM, the ardent government critic said Ghanaians had allowed Akufo-Addo too much leverage to be toying with governance.

    “This is a very democratic country that has sat back to look at this president play with this country. I am most excited that this president has proven to the whole world that he is most incompetent, he is too old to be president and his faculties stopped working several years back, the best he could have done to us was to retire.”

    He continued that whiles the group of 80 New Patriotic Party Members of Parliament want, “want the Finance Minister to leave, may I extend it to the president himself? Why do you sack a man who believes and still believes that the Finance Minister is the best?

    “Why do you sack the Finance Minister and leave the man who believes in him. To send Ofori-Atta home … and leave this sleeping president to continue sleeping and playing the Don Quixote,” he quizzed.

    The group said it will not do business with government nor support the 2023 Budget if the president fails to heed their call to remove Ofori-Atta and the Minister of State at the Finance Ministry, Charles Adu Boahen.

    According to them, the move follows previous concerns sent to the government that have not yielded any positive results.

    “We have had occasions to defend allegations of conflicts of interest, lack of confidence, and trust against the leadership of the Finance Ministry.

    “The recent development within the economy is of major concern to our caucus and our constituents. We have made our grave concern to our president through the parliamentary leadership and the leadership of the party without and positive response,” Andy Appiah Kubi said.

    The MPs believe the move will change the current economic situation in the country.

    “We are by this medium communicating our strong desire that the president changes the Minister of Finance and the Minister of State at the Finance Ministry without further delay in order to restore hope into the finance sector and reverse the downward trend in the growth of the economy,” he added.

    Source: Ghanaweb

  • ‘One of the best bankers in Ghana’: Watch how Akufo-Addo introduced Ofori-Atta in 2017

    It’s safe to argue that we live in the “internet doesn’t forget” era, in which a person’s words or opinions could be quickly uncovered in the case that they give context to ongoing dialogues.

    The two politicians who have received the greatest media attention in recent days are without a doubt Finance Minister Ken Ofori-Atta and Nana Addo Dankwa Akufo-Addo.

    Ofori-Atta due to a request from some of his party’s members, the New Patriotic Party due to their call for his dismissal, and Akufo-Addo due to his’refusal’ to comply with that request – at least right now.

    Akufo-Addo has serially stood by his under fire Finance Minister despite an economic downturn that has seen Ghana run to the International Monetary Fund for a programme.

    A video has popped up, of how Akufo-Addo, since Day 1, had spoken highly of his Finance Minister in early 2017 when he was introducing members of his cabinet to the public at the Jubilee House.

    A UTV video that has been in circulation on social media shows Akufo-Addo call on Ofori-Atta to join him on a stage as the then new President speaks about his appointee’s academic and professional pursuits as well as experience with the local and global economy.

    “He is arguably, one of the most successful bankers not in our country, an American-educated Colombia, Yale and the rest, worked in Wall Street as a youngman, Morgan Stanley and Solomon Brothers and when he returned here to Ghana …combined with his partners, co-found what has become what has become the most successful investment bank in our country, that is Databank,” Akufo-Addo said in his introduction.

    In arguing out why the choice of Ofori-Atta, he stated: “We want to get the Ghanaian economy fully back on track and developing so that we can create jobs and raise the living standards of our people.

    “We need an economist, we need somebody with finance, who has the range, who has the capacity and has the insight into how to move modern economies.

    “I believe that most people who are dealing in the capital markets of our country would acknowledge him as one of the most outstanding figures in it,” he stressed.

    Ofori-Atta was subsequently vetted and appointed, serving throughout the first term of Akufo-Addo, he was reappointed in 2021 to continue as Finance Minister, making him the longest-serving Finance Minister in the Fourth Republic.

    The group said it will not do business with government nor support the 2023 Budget if the president fails to heed their call to remove Ofori-Atta and the Minister of State at the Finance Ministry, Charles Adu Boahen.

    According to them, the move follows previous concerns sent to the government that have not yielded any positive results.

    “We have had occasions to defend allegations of conflicts of interest, lack of confidence, and trust against the leadership of the Finance Ministry.

    “The recent development within the economy is of major concern to our caucus and our constituents. We have made our grave concern to our president through the parliamentary leadership and the leadership of the party without and positive response,” Andy Appiah Kubi said.

    The MPs believe the move will change the current economic situation in the country.

    “We are by this medium communicating our strong desire that the president changes the Minister of Finance and the Minister of State at the Finance Ministry without further delay in order to restore hope to the finance sector and reverse the downward trend in the growth of the economy,” he added.

  • Ofori-Atta unfit for office because can’t supervise his own mess – Haruna Iddrisu explains

    The minority leader, Haruna Iddrisu, has backed members of the New Patriotic Party who are seeking for the resignation of the finance minister and minister of state of the finance ministry, respectively, Ken Ofori-Atta and Charles Adu Boahen.

    He asserts that the Finance Minister is unqualified to address Ghana’s current economic problems.

    On Tuesday, October 25, 2022, Haruna Iddrisu declared Ofori-Atta: “cannot manage or supervise his own mess, he is not fit for purpose” in submissions to Parliament.

    He, therefore, urged his colleagues on the other side of the House to join the Minority to ensure Ofori-Atta is removed.

    Some NPP MPs on Tuesday, October 25, 2022, organised a press conference to demand the dismissal of the Minister of Finance, Ken Ofori-Atta, and the Minister of State at the finance ministry, Charles Adu Boahen, in order to restore public confidence in the economy.

    Andy Kwame Appiah-Kubi, Spokesperson for the MPs who describe themselves as the ‘backbenchers’ said if the president fails to heed their call, they will also not do business with the government nor support the 2023 Budget.

    “We have had occasions to defend allegations of conflicts of interest, lack of confidence, and trust against the leadership of the Finance Ministry.

    “The recent development within the economy is of major concern to our caucus and our constituents. We have made our grave concern to our president through the parliamentary leadership and the leadership of the party without and positive response,” Andy Appiah Kubi said.

    But the Majority Leader further indicated on the floor of the House that no Minister in government is beyond the reach of censure and reproach if the prevailing conditions call for such measures.

    “Mr. Speaker, we are serving you notice that we will take every step that this Parliament has…to censure any Minister who is not living up to expectation, and we will lead the way with the Honorable Minister for Finance.”

    NPP MPs petition president to sack Ofori-Atta, Adu Boahen

    The majority caucus in parliament, at a press conference on Tuesday, have threatened they will not participate in any government business until Minister for Finance, Ken Ofori-Atta and Minister of State in charge of Finance at the Office of the President, Chares Adu Boahen are sacked by the president.

  • Allow Ofori-Atta to seal IMF deal – Akufo-Addo reportedly tells ‘breakaway’ NPP MPs

    In order to wrap up talks with the International Monetary Fund (IMF) before he leaves office, President Nana Addo Dankwa Akufo-Addo has pleaded with parliamentarians from the ruling party to remove Ken Ofori-Atta from his position as finance minister.

    He claims that by removing the minister from office, the economy’s confidence will be restored.

    This was stated by President Nana Addo Dankwa Akufo-Addo during a meeting with the irate MPs on Tuesday, October 25 at Jubilee House.

    The aggrieved MPs, according to some media reportage were unhappy about the President’s posture towards his cousin and were still insisting he must leave the finance ministry.

    “Nana Addo Dankwa Akufo-Addo has asked Ken Ofori-Atta to be given three more weeks to conclude the IMF negotiations,” Accra-based Citi FM reported.

    Some NPP MPs on Tuesday, October 25, 2022, organised a press conference to demand the dismissal of Ofori-Atta, and the Minister of State at the finance ministry, Charles Adu Boahen, in order to restore public confidence in the economy.

    Andy Kwame Appiah-Kubi, Spokesperson for the MPs who describe themselves as the backbenchers said if the president fails to heed their call, they will also not do business with the government nor support the 2023 Budget.

    “We have had occasions to defend allegations of conflicts of interest, lack of confidence, and trust against the leadership of the Finance Ministry.

    “The recent development within the economy is of major concern to our caucus and our constituents. We have made our grave concern to our president through the parliamentary leadership and the leadership of the party without and positive response,” Andy Appiah Kubi said.

    NPP MPs petition president to sack Ofori-Atta, Adu Boahen

    The majority caucus in parliament, at a press conference on Tuesday, have threatened they will not participate in any government business until Minister for Finance, Ken Ofori-Atta and Minister of State in charge of Finance at the Office of the President, Chares Adu Boahen are sacked by the president.

  • NPP MPs demand removal of Ken Ofori-Atta, Adu Boahen

    In order to restore public trust in the economy, the majority caucus in parliament has petitioned President Akufo Addo to dismiss Finance Minister Ken Ofori Atta and Minister of State at the finance ministry, Adu Boahen.

    On Tuesday, October 25, 2022, their spokesperson, Andy Kwame Appiah-Kubi, Member of Parliament for Asante-Akim North, made the announcement during a briefing for the media.

    They claim that the action is in response to earlier complaints that were made to the government but received no satisfactory responses.

    Andy Appiah Kubi stated, “We have had opportunity to defend against claims of conflicts of interest, lack of confidence, and trust.

    Soon, more…

  • Continuous depreciation of cedi getting unbearable – Prof. Lord Mensah

    Economist, Professor Lord Mensah says comments by the Finance Minister urging Ghanaians not to panic over the continuous depreciation of the cedi cannot be accepted.

    According to Bloomberg, the Ghana cedi is the worst-performing amongst 148 currencies in the world, having depreciated by nearly 52% this year.

    Finance Minister, Ken Ofori-Atta has said increased importations during Christmas are accounting for the rush for the dollar and assured that once a deal is concluded with the IMF, the slide in the value of the cedi will be halted.

    But in an interview, Professor Lord Mensah said, until Ghana moves away from import dependency, there will be constant pressure on the cedi, leading to astronomical depreciation in value as is happening currently.

    “We have a cause to worry because we do not produce much in Ghana. So, once everything on the shelf is imported with the dollar, the Minister cannot say we cannot worry about the dollar. We need to get worried about the dollar because we know getting to Christmas, the demand for the dollar is high adding to the depreciation of the dollar and the rate for this year alone is unbearable.”

    The Ghana cedi has lost close to 50 percent of its value since the beginning of the year.

    Currently, the cedi is selling at over GH¢13.00.

    Ghana’s inflation for September 2022 stands at 37.2 percent while Producer Price Inflation for the same month has risen to 45.5 percent.

    Despite these, government says Ghana’s economy is recording some marginal growth despite recent ravaging shocks.

    Source: Citinewsroom

  • Ofori-Atta blames Cedi depreciation on rush for dollars to import Christmas goods

    The Minister of Finance, Ken Ofori-Atta, has explained that the current level of depreciation of the local currency may have been occasioned by a rush for dollars to import Christmas goods.

    According to Mr. Ofori-Atta, it is quite perplexing to see the level of the cedi’s depreciation.

    However, he has urged Ghanaians to not panic or put further pressure on the cedi as the currency continued its rapid slide against the US dollar in October.

    “…It’s quite perplexing to see where it’s going. Of course, typically in October, people are importing for Christmas and maybe there’s a rush for that (the dollar) but my expectation is that once we also conclude with the Fund (IMF), that will lead to the fund’s disbursement early next year to do that,” Mr. Ofori-Atta said in an interview with Asaase Radio.

    Thursday’s depreciation (as much as 9.5 per cent against the US dollar), the biggest in 22 years, took losses suffered by the Ghana cedi to nearly 52% this year, the worst performance among 148 currencies tracked by Bloomberg.

     

    Ofori-Atta blames Cedi depreciation on rush for dollars to import Xmas goods

    Mr Ofori-Atta was hopeful that the slide would be halted when the government reaches an agreement with the International Monetary Fund (IMF) for economic support this year.

    “The support we are getting from countries like Germany and France, we are confident that we will get the resources needed, so we really would want people to know not to panic or be rushing in order to put pressure on the currency, I think it’s unnecessary and we are in good shape”.

    Ghana is hoping to receive as much as $3 billion under an IMF extended credit facility program to bolster its finances and regain access to global capital markets.

    He added that additional support from countries such as Germany and France would provide the country with the funds needed to halt the slide of the cedi.

     

  • China fines Kenya Sh1.31bn for defaulting on SGR loans

    Finance Minister Ken Ofori-Atta praised the Group of Seven (G7) countries’ decision to invite finance ministers from several African countries to a summit in Washington, DC, as “very historic.”

    Canada, France, Germany, Italy, Japan, the United Kingdom, the United States of America, and the European Union make up the G7, an informal alliance of the seven most developed economies in the world.

    For the crucial meeting, this group summoned the finance ministers of Senegal, Togo, Zambia, Ghana, Guinea, Rwanda, Chad, Tunisia, and Morocco, as well as from South Africa.

    It was reported by Accra-based 3news that the G7 instructed the World Bank to provide financial support to Ghana and other African countries who were at the meeting.

    This financial support, according to the report, is to enable the African countries to deal with the impact of the economic crisis caused by force majeures.

    “It was actually quite a historic meeting because for the first time the G7 has called African Finance Ministers to deliberate on the crisis that they see.

    “…these are exogenous factors that have really (affected), even their own economies (and) put it under serious stress and are, therefore, looking for ways in which they can add to the capital needs to make sure that things do not deteriorate. So countries such as Ghana, Senegal, Tunisia, and Morocco were there,” Ken Ofori-Atta said as quoted by 3news.

    He added “The empathy is clear, the need to [introduce] something new and therefore, their interest in encouraging the World Bank to find more resources, tapping into the private sector so that they will stabilize where things are going.

    “They have reduced growth rate to 2.7 percent expecting a grim and difficult period, they don’t want to make sure that things deteriorate from liquidly to insolvency to chaos.”

    The meeting brings together central bankers, ministers of finance and development, parliamentarians, private sector executives, representatives from civil society organizations and academia to discuss issues of global concern, including the world economic outlook, poverty eradication, economic development, and aid effectiveness.

  • We’re hopeful of securing IMF programme before end of 2022 – Ofori-Atta

    The Finance Minister, Ken Ofori-Atta is optimistic the country will get approval from the International Monetary Fund (IMF) for an economic programme before the end of 2022.

    According to him, a team of government officials will from this weekend travel to the USA for two weeks to continue negotiations with the Fund to fast-track the deal.

    He was speaking to the media after paying a visit to the ‘Long Room’ at the Tema Port in the Greater Accra region.

    He stated that discussions have so far been fruitful and cordial with the IMF mission team, here in Ghana.

    “We will go to Washington with them and continue for another two weeks of discussions. I think we are moving in the right direction. The Debt Sustainability Analysis still continues”, he announced.

    Mr. Ofori-Atta stated that issues concerning the Debt Sustainability Analysis will be a key agenda that would be looked at to decide a programme for the country.

    We’re hopeful of securing IMF programme before end of 2022 – Ofori-Atta

    “The Debt Sustainability Analysis is a critical component of the decision as to what to do such as structural reforms and debt operations, as well as the financing gap of the country,” he stressed.

    Mr. Ofori-Atta also used the occasion to congratulate the Customs Division of the Ghana Revenue Authority for exceeding its target in the month of September, 2022.

    “A huge part of the discussions also include revenue. This means that the work of customs is very important to the discussions. I looked at September figures and it looks like we exceeded the target. That’s very encouraging,” he said.

    He urged the GRA to continue working in the interest of the nation – blocking revenue leakages in the system.

    Source: Citinews

  • Dr Amoako Baah says Akufo-Addo begged Ofori-Atta not to resign as Finance Minister

    Leading member of the ruling New Patriotic Party, Dr Amoako Baah, says  President Nana Addo Dankwa Akufo-Addo begged Finance Minister, Ken Ofori-Atta, to reconsider a decision to resign from office.

    Dr Amoako Baah, speaking in an interview with Joy FM, noted that President Akufo-Addo is insisting on the finance minister keeping his job because they were relatives.

    “If the finance minister was not a relative of the president, he himself would have resigned. I hear he tried to resign actually; the president begged him not to. All because the president needs him. Whatever it is he was doing, he is the one who understood what he was doing. He was the one who made it work, and so the president needs him no matter what. This situation we are in is not like other times. This is a peculiar situation of family and friends,” he stated.

    There are calls for Mr Ofori-Atta to be relieved of his position, with some critics citing the current economic challenges facing the country.

    The decision by the government to enter an International Monetary Fund programme despite its earlier position against the IMF has also been cited by several critics of the finance minister.

    Dr Amoako Baah, in the interview, described Mr Ofori-Atta leading Ghana’s IMF negotiations as counterfeit logic.

    “How is it possible that the very person that is trumpeting the idea that we are not going to the IMF, we have the means to make it work, we don’t need to go to the IMF, we are a proud nation and all of that. Then we end up at the IMF and suddenly this same person is the one who has become the champion of dealing with the IMF. How is that possible?” he questioned.

    Dr Amoako Baah, who is a senior political science lecturer, called the minister’s integrity into question, saying, “This is what is called counterfeit logic; it has no integrity nor whatsoever.”

  • Akufo-Addo begged Ofori-Atta not to resign as Finance Minister – Dr Amoako Baah

    Leading member of the ruling New Patriotic Party, Dr Amoako Baah, has claimed that President Akufo-Addo pleaded with Finance Minister, Ken Ofori-Atta, to rescind a decision to resign from office.

    In an interview with Joy FM, Dr Amoako Baah argued that President Akufo-Addo is insisting on the finance minister keeping his job because he is his relative.

    “If the finance minister was not a relative of the president, he himself would have resigned. I hear he tried to resign actually; the president begged him not to. All because the president needs him. Whatever it is he was doing, he is the one who understood what he was doing. He was the one who made it work, and so the president needs him no matter what. This situation we are in is not like other times. This is a peculiar situation of family and friends,” he stated.

    There are calls for Mr Ofori-Atta to be relieved of his position, with some critics citing the current economic challenges facing the country.

    The decision by the government to enter an International Monetary Fund programme despite its earlier position against the IMF has also been cited by several critics of the finance minister.

    Dr Amoako Baah, in the interview, described Mr Ofori-Atta leading Ghana’s IMF negotiations as counterfeit logic.

    “How is it possible that the very person that is trumpeting the idea that we are not going to the IMF, we have the means to make it work, we don’t need to go to the IMF, we are a proud nation and all of that. Then we end up at the IMF and suddenly this same person is the one who has become the champion of dealing with the IMF. How is that possible?” he questioned.

    Dr Amoako Baah, who is a senior political science lecturer, called the minister’s integrity into question, saying, “This is what is called counterfeit logic; it has no integrity nor whatsoever.”

  • I would have resigned if I was Finance Minister – Kwadwo Mpiani

    Former Chief of Staff in the President Kufuor administration, Kwadwo Mpiani says he would have resigned if he was the Finance Minister following the decision of the government to seek economic support from the International Monetary Fund (IMF).

    According to Mr Mpiani, the utterances of the current Finance Minister, Ken Ofori-Atta before the government decided to seek the intervention of the International Monetary Fund make him unfit for the role.

    “Honestly, If I were the Finance Minister (Ken Ofori-Atta) this is not a question of the President dropping me, from my utterances and then what is happening, I would just say Mr President, thank you so much, I think it’s time for me to sit back for another person to take over,” Mr Mpiani said in an interview with Joy News.

    It will be recalled that in February this year, Mr Ofori-Atta said the government had no intention to go to the International Monetary Fund (IMF) for a bailout but will resort to available means within the country to generate revenue.

    This u-turn by the government which yesterday concluded preliminary engagements with the IMF on an economic support programme has resulted in critics calling for his resignation over his pronouncements on IMF support.

    Reshuffle President’s prerogative

    Insisting that reshuffling Ministers was the sole prerogative of the President, Mr Mpiani said like all Ghanaians he was concerned about the performance of some of the President’s appointees.

    He said if he had the opportunity to advise President Akufo-Addo, he would urge him to drop some inefficient Ministers.

    “It’s the prerogative of the President, if he believes that all these people are working well, fine. But a listening President will try and find out what the people think…,” he said.

    “I would advise him to drop some of the Ministers and bring in some [new ones]”.

    Stopping short of naming the Ministers who should be dropped by the President, Mr Mpiani stressed that he would have resigned if he was the Finance Minister.

    Source: Graphic online

  • I never said ‘Ofori-Atta and Bawumia are worse as each other’ – Dr Akoto Osei

    The Presidential Advisor on the Economy, Dr Anthony Akoto Osei has rebutted claims that he described the performance of Vice President Dr Mahamudu Bawumia and Finance Minister Ken Ofori-Atta as worse.

    Dr Akoto Osei is alleged to have remarked “Ofori-Atta and Bawumia are worse as each other” in a leaked tape.

    In a press statement sighted by The Independent Ghana, Dr Anthony Akoto Osei faulted Ghanaweb for disseminating an article indicating that he made such comments.

    “My attention has been drawn to a post on Ghanaweb and other social media platforms including a purported leaked tape which has me allegedly commenting on the performance of the two personalities mentioned in the headline.

    “I wish to categorically deny making these unfounded statements either in an interview or in an engagement with anybody.”

    According to him, the said voice in the viral leaked tape is not his; adding that he does support the comments made by the unknown individual in the tape.

    Dr Anthony Akoto Osei, has therefore, demanded that Ghanaweb retracts the said article on their website and render an apology for the damage caused.

    He also wants the media house to ensure his reputation is left untainted by publishing the rejoinder issued by the Office of the President.

    “Not only do I demand this rejoinder be published with the same prominence given the wicked allegation, I further demand a retraction and apology from Ghanaweb,” the statement read.

    Check this out:

    Source: The Independent Ghana

  • Ofori-Atta answers questions on Covid-19 expenditure in Parliament

    The Finance Minister, Ken Ofori-Atta, is currently in Parliament answering 16 questions on the state of the country’s economy.

    He is providing the House the details of Covid-19 related expenditure by government and other matters.

    Ken Ofori-Atta was rescheduled to appear before the house after he failed to honor an earlier summon on Thursday, June 16.

    When the minister failed to show up the first time, the Minority in Parliament through the Ranking Member on the Health Committee, Kwabena Mintah Akandoh, described him as unfit for his office.

     

    Source: The Independent Ghana

  • Lets audit the auditor Ofori-Atta

    Finance Minister Ken Ofori-Atta is advocating the audit-the-auditor concept to promote professionalism among auditors in the country.

    Speaking at the Ministry of Finance and Ghana Revenue Authority (GRA) inauguration of a new Tax Audit and Quality Assurance Unit to ensure a centralised audit planning process and guarantee quality auditing, Mr Ofori-Atta said: “Some auditors in charge of auditing jobs, sometimes get away with unprofessional practices because no one audits their work when they are done, so, many wrongs are buried upon the issuance of their reports never to be resurrected again, and we want to change that”.

    “So, there should be an audit to audit the auditor concept”, he suggested, adding: “Once they know their work may be reviewed, they will not compromise on the integrity of their work.”

    The unit, according to Mr Ofori-Atta, will work to eliminate corrupt acts in revenue mobilisation in the country.

    For his part, the Commissioner-General of the GRA, Reverend Ammishaddai Owusu-Amoah, said the unit will help the Commission improve its revenue collection.

    “If you, as a tax authority, want to be able to wipe away the issue of corruption and integrity, it requires a definite, purposeful act to move ahead, otherwise no matter what you do, we will not be able to get the needed result. Therefore, GRA, as part of our strategic direction aim at coming out with a definite action that will ensure that perception or the reality of corruption, as far audit is concerned, is reduced to a significant level in GRA. Our commitment to this course is absolute,” he stated.

    Source: Class FM

  • LIVESTREAMING: Finance Ministers statement on Coronavirus economic impact on Ghana

    Finance Minister, Ken Ofori-Atta is in Parliament to brief the House on measures the government has adopted to sustain the economy, following the disruption caused by the coronavirus pandemic.

    Parliament received a request from the government on Saturday to approve an agreement with the World Bank for an amount of $35 million to support its operations in dealing with the pandemic.

    The proposed agreement is between the Government of Ghana and the International Development Association (IDA), a subsidiary of the World Bank.

    President Nana Addo Dankwa Akufo-Addo on Friday directed the Finance minister to prepare a coronavirus alleviation programme to address the disruption in economic activities following the scourge of the COVID-19 pandemic for approval by parliament.

    The Finance Minister is required to make a minimum of 1 billion cedis available to households and businesses, particularly small and medium scale enterprises.

     

    Source: www.ghanaweb.com

  • ‘What kind of person quotes the Bible yet hurls insults in a ‘Kasantwi’ budget’ Mona Quartey to Ofori-Atta

    The 2020 budget statement presented before Parliament by Ghana’s Bible-chomping Finance Minister Ken Ofori-Atta was full of innuendoes and veiled insults targeted at the leadership of the erstwhile Mahama administration, a former Deputy Minister of Finance Mrs. Mona Quartey has said.

    She wondered how Mr Ofori-Atta could, with one tongue, copiously quote The Scriptures during his presentation of the budget on Wednesday, 13 November 2019 while at the same time use the same tongue to hurl insults at the former administration.

    55,000 nurses recruited Ofori-Atta

    Responding to a comment by Mr Ofori-Atta: “If you add the cost of cleaning the financial sector challenges in addition to the long list of legacy bills that the Akufo-Addo government had to settle, the cost to the Ghanaian taxpayer is around GHS33 billion”, Mrs Mona Quartey, who was a member of the Mahama government, retorted: “That is so deceitful”.

    “Honestly”, she asked, “How can you talk about a Mahama legacy debt when this nation has been ruling itself since 1957 and each government hands over debt to the next one?”

    “So, it will be very unfair to just put it like that; and that is one of the things I’d like to mention when you talk about the general budget: One, the budget was a ‘Kasantwi’ budget, where there was a constant insulting of the former government. You don’t do that”, she said, stressing: “One government hands over to the other”.

    “Again”, she emphasised, “While you were doing all that so-called ‘kasantwi’, you were also throwing the name of Jesus and God into the budget”, she pointed out, wondering: “What kind of person does that kind of thing?”

    “You insult with one mouth and then you invoke the name of Jesus with the same mouth, throwing Scripture into it. Let us be serious about our budget; our budget is a very important tool…”, she urged.

    2020 Budget Statement and Economic Policy by The Independent Ghana on Scribd

    Source: classfmonline.com

  • 55,000 nurses recruited Ofori-Atta

    The government has recruited 55,000 nurses to enhance healthcare delivery, Finance Minister Ken Ofori-Atta has disclosed when he delivered the 2020 budget to Parliament on Wednesday, 13 November 2019.

    Apart from recruitments into the health sector, Mr Ofori-Atta said the government has also recruited tens of thousands of people into various public sector programmes.

    Ken Ofori-Atta either a liar or clueless 3Music Awards founder fires

    He stated: “A further 138,026 Ghanaians have been recruited under various programmes to support public sector delivery.”

    Meanwhile, “3.6 million Ghanaians have been registered under the national ID programmes while 1,000 sanitary facilities are under construction to address open defecation and 49,000 trainee nurses have been paid GHS468 million in allowances,” Mr Ofori-Atta noted.

    2020 Budget Statement and Economic Policy by The Independent Ghana on Scribd

    Source: classfmonline.com