An Economist, Dr. Sam Worlanyo has called on President Nana Akufo-Addo to focus on strengthening Ghana’s economy in the wake of the coronavirus pandemic in his second administration as President.
President Nana Akufo-Addo who has been sworn in as President of the fourth Republic of Ghana on the just ended 2020 elections has begun nominating a number of persons for ministerial positions; pending parliamentary approval.
To ensure the strengthening the country’s economy, Dr. Worlanyo advised that “The President should look at competent people who have the country at heart as well as those who can accomplish the task given to them by him. With such people, they will help him bring the country’s economy on track regardless of coronavirus. If not, then we will have a lot to do as Ghanaians.”
He made this appeal in an interview with A1 Radio on Wednesday.
He added that “The President should also try as much as possible to desist appointing people who only focus on party lines, and love material things. If such people are being appointed then their contributions will not be felt or have impacted on the country’s growth.”
Touching on parliament’s approval of US$ 162.9 million Barclays bank loan to finance the design and furnishing of seven district hospitals, Dr. Worlanyo noted that the loan, if only used for the intended purposes will help improve the country’s economy
“For any country to be piloted for a grant of such, it means that the country is creditworthy; and creditworthy for a state means that for all things being equal, it has the system running. But what I will say is that they should be extra careful and use the loan appropriately for the growth of the country.”
Meanwhile, the loan is part of the amendment agreements to the ECGD Loan Agreement between the Government of the Republic of Ghana, Barclays Bank PLC (as Coordinating MLA), and Her Britannic Majesty’s Secretary of State acting by the Export Credits Guarantee Department of CGD).
It could be recalled that in 2010, a $13 billion loan agreement was signed between Ghana, the China Development Bank, and China Exim Bank that was aimed at developing infrastructure projects, including those in the oil and gas sector.
The House also approved a request for waiver of Import Duty, Import GETFund Levy, Import NHIL, Import VAT, EXIM Levy, Special Import Levy, and Domestic VAT amounting to the Cedi equivalent of $16,212,764.64 (made up of US$15,418, 702.14 on imports and US$794,062.50 on local purchases) on materials, equipment, and works/ services to be procured for the project.
Source: A1Radioonline.com|101.1MHZ|Moses Apiah|Ghana
