{"id":1013,"date":"2014-02-11T10:54:57","date_gmt":"2014-02-11T10:54:57","guid":{"rendered":"http:\/\/citi.hatuasolutions.com\/?p=130"},"modified":"2014-02-11T10:54:57","modified_gmt":"2014-02-11T10:54:57","slug":"andrew-awuni-supports-bank-of-ghana","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/?p=1013","title":{"rendered":"Andrew Awuni supports Bank of Ghana"},"content":{"rendered":"

\"andrew<\/a>Policy Think Tank, Centre for Freedom and Accuracy (CFA) has jumped to the defense of Bank<\/span> of Ghana saying, \u201cThe central bank should not be entirely blamed for the fast depreciation of the cedi<\/span> against the Dollar.\u201d<\/p>\n

Assessing the state of the Ghanaian economy at a news conference in Accra, Executive Director for the CFA, Mr. Andrew Awuni advised government to stop pretending and take pragmatic steps to fix the ailing economy.

He observed that government<\/span> had succeeded in planting the central bank in the centre<\/span> of Ghana\u2019s financial crises.

\u201cIn the process it appears that government is making the Bank of Ghana a scapegoat for what has happened and I think that it is not only disingenuous but it is also most unfair.\u201d

He remarked, \u201cThe central bank is a custodian, regulator and supervisor of the financial sector but<\/span> the central bank’s role does not extend to the generation of government revenue.\u201d

He diagnosed the fast depreciation of the cedi<\/span> against the Dollar saying, \u201cThe issue with the cedi<\/span> depreciation is basically about demand and supply and the answers that we should be looking for will have to address how to either reduce demands<\/span> or increase supply.\u201d

He condemned the importation of finished petroleum products into the country at a time the nation could boast of oil finds in large quantities.

\u201cWe need to find out why we are buying finished petroleum products from Europe for the Ghanaian economy when we have an oil refinery idling and that in itself causes a lot of out flow<\/span> of Dollars.\u201d

Mr. Awuni<\/span> claimed more than 2.6 billion Dollars is spent annually buying finished petroleum products from abroad to serve Ghanaians when government<\/span> could have made savings by utilizing the Tema<\/span> oil refinery.

He suggested to government<\/span> to adopt a market solution to the current economic crises and desist from attempting to restrict the private sector.

\u201cThe issue should be addressed but<\/span> addressed from<\/span> the government; the attempt by the government to attack and restrict the private sector is certainly not the proper response.\u201d

He added, \u201cThe problem we have is a market problem and can only be solved with market solutions.\u201d

By: Abdul Karim Naatogmah\/citifmonline.com\/Ghana<\/p>\n

<\/div>\n

\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Policy Think Tank, Centre for Freedom and Accuracy (CFA) has jumped to the defense of Bank of Ghana saying, \u201cThe central bank should not be entirely blamed for the fast depreciation of the cedi against the Dollar.\u201d Assessing the state of the Ghanaian economy at a news conference in Accra, Executive Director for the CFA, […]<\/p>\n","protected":false},"author":14,"featured_media":143,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[],"tags":[4,17],"class_list":["post-1013","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-st-augustines-college","tag-wassa-akropong"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/1013","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1013"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/1013\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/143"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}