Accra, April 23, GNA - Mr Daniel Nii Kwartei Titus Glover, the Member of Parliament for Tema East Constituency in the Greater Accra Region, has stated that the Akufo-Addo led Government is the best especially in the area of Economic Management.
“If you look at how the exchange rate has been brought under control by the Akufo-Addo Government’s Economic Management Team, it is a dramatic performance that has not been seen in this country before.
“For the first time in the history of the 4th Republic, the cedi stabilised against the dollar on its own, without intervention by the Central Bank,” Titus Glover pointed out.
Speaking in an exclusive interview at the weekend, the MP, who doubles as the Deputy Minister for Transport said the Government’s competence on the Economy was evident in the way it was influencing macro-economic stability.
Titus Glover granted the interview on the sidelines of a free health screening that he organised for his constituents in Tema New Town, where many constituents updated themselves on their health status for free.
According to the MP who was pestered by journalists into making the political statements after his earlier pleas to not be forced to tinge the health screening with politics, the response of the cedi to international market pressures had shown the whole world that, if Ghana has an excellent team like the Akufo-Addo Government in place, the cedi can hold its own against any major trading currency.
The Ghana cedi is now trading at GH¢5.3 to a dollar after it rapidly depreciated to GH¢5.9 to a dollar in early March.
When the cedi hit that free fall, the Government could not intervene because of International Monetary Fund conditionalities resulting from Ghana’s programme with it.
However, on its own, the cedi quickly stabilised and starting valuing up against all the major trading currencies without intervention.
“The Akufo-Addo Economic Management Team, headed by Vice President Bawumia has basically shown that if you put very smart measures in place, the cedi can be stable, saying that the Akufo-Addo Government will achieve more stability for the cedi as time goes on.
Nii Kwartei Titus Glover also pointed out that it was because of the same superior economic management that International rating agency, Standards and Poor recently upgraded Ghana’s credit worthiness from B- to B+.
“And why do you think that the IMF sees it fit for us to complete the Extended Credit Facility programme with them? It is because the Economy is now being managed better.”
He praised President Akufo-Addo for putting together such a smart Economic Management team led by Vice President Bawumia and featuring heavy weights including; Senior Minister, Yaw Osafo Marfo, Central Bank Governor, Dr. Ernest Addison and Finance Minister, Ken Ofori-Atta.
According to him, his acts of charity in his constituency, including; the free medical health screening were inspired by First Lady, Rebecca Akufo-Addo.
“The Rebecca Foundation is on its own contributing immensely to uplifting the well-being of Ghanaians and this health screening here was exampled by that Foundation.”
He said the NPP would keep serving Ghanaians better as they had huge infrastructural plans that would soon silence the NDC which likes touting infrastructural development as its trump card.