General News of 2014-07-08

Let not play politics with the economy - Abodakpi

Mr. Dan Abodakpi, former Minister of Trade and Industry, has urged political parties not to play politics with the Ghanaian economy, but rather come to a consensus in finding lasting solutions to the current economy crises.

He said they must also appreciate the economic dynamics and help government to solve the current situation adding, “It is dangerous to play politics with the economy which will have telling effects in the future.”

Mr. Abodakpi told the Ghana News Agency in Takoradi on the sidelines of a Regional delegates meeting to solicit support for the party’s chairmanship position.

He said government had not in any way failed, but just like Malaysia, Greece, United Kingdom, Spain and United States of America, which countries experienced sudden global economic crisis, were gradually picking up, there is still hope for a better Ghana with the support of all, adding that, “Government is prepared to dialogue”.

Mr. Abodakpi mentioned trade liberation and fronting by Ghanaian businessmen and women for multi-national companies to invade the country as a major contributor to the falling of the cedi, and lauded the Bank of Ghana for introducing some measures to control the situation.

He compared the situation to the 1980’s Malaysia financial crisis and the exchange control measures put up by the country to mitigate the situation.

The former Minister said another avenue to save the ailing economic was for the Ghanaian to have confidence in made-in-Ghana goods, and fully patronize them to support the growth of the local industry, and to ensure stable economic growth.

Mr. Abodakpi entreated government to effectively communicate this harsh economic realities to Ghanaians to win their confidence, as well as change the attitude of the business community, to stop being import-dependent, which only makes the nation a consuming economy with its resultant negative trade balance.