The moment K.T. Hammond was asked to describe Ghana’s current economy

When the Minister-designate for Trades and Industry, K.T. Hammond, appeared before the Appointments Committee, the Minority Leader, Cassiel Ato Forson, asked him to describe the economy.

The Minister-designate explained that even though he acknowledges the fact that Ghana is in trying economic times, the challenges are not peculiar to the country.

He referenced the IMF Director, Christina Georg, who noted that Ghana’s economic crisis has been exacerbated by exogenous factors.

K.T. Hammond said: “We are in trying times. But it is not only Ghana that is in trying times, you know what I read this morning, the IMF Director is in the news to have said that Ghana was really trying but for two items, COVID and the WAR. Ghana is not an island isolated on its own, we are a formidable part of the global world. There is a difficulty brought about by economic factors, we accept it but that’s not the end of the world.”

Kobina Tahir Hammond also stated that it is not the duty of the various sector ministers to ensure the stability of the cedi.

According to him, this is the sole responsibility of the Bank of Ghana.

K.T. Hammond and Stephen Amoah have been nominated by President Akufo-Addo to act as Trade Minister and deputy after the resignation of Alan Kyerematen.



SSD/DA