General News of 2014-08-01

Mahama assures speedy economic recovery

President John Dramani Mahama on Thursday presided over a two-day Presidential Strategic Advisory Committee to kick-start the implementation of measures that would speed up economic recovery.

The meeting, apart from analysing policies and strategies that were adopted at the Senchi Economic Forum, would also map out strategies that would help in the re- shaping of the economy.

It was also attended by Vice President Paa Kwesi Bekoe Amissah-Arthur, Ministers of State and Economic Experts who would all be contributing their quota towards reinvigorating the economy in the coming months.

President Mahama, who briefed the media after a closed door meeting, said the thrust of the discussions were towards restoring policy credibility among other measures.

He said the provision of stability results and ensuring fiscal stability to bridge the deficit gap was also paramount and would be discussed at length to implement the Senchi economic forum suggestions for the betterment of all Ghanaians.

President Mahama gave the assurance that the economy would regain stability by the close of the year by ensuring that the rapid Cedi depreciation was stemmed.

He said government was studying the market trend and the Bank of Ghana would soon come out with bolder decisions to ensure stability in the economy and the Cedi.

Mr Kwame Pianim, an economist, who is also part of the advisory committee, gave the assurance that President Mahama's consultations would yield dividends, with the implementation of the Senchi economic forum

Dr. Henry Kofi Wampah, Governor of the Bank of Ghana, warned that those speculating with the Cedi would soon run at a total loss as measures were being put in place to stop the rapid depreciation of the currency.

He said his outfit was monitoring the situation to ensure the implementation of all policy options.

Source: GNA
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