Ghana's Government must work hard for Ghana - CPP

The Convention People’s Party (CPP) has reminded the Ministry of Finance and Economic Planning that their charge was to manage the country’s economy for Ghanaians and not for foreign interests.

“Consequently the preferred outcome of the performance of the economy should be to benefit Ghanaians”.

A statement issued and signed by Mr. Nii Armah Akomfrah, Director of Communication of the CPP said: “The Ministry of Finance and Economic Planning issued a statement recently to say that the over subscription, largely by foreign fund managers of their 5 year bond issue at the rate of 23% is indicative of the acceptability of Ghana risks and therefore demonstrates the good performance of Ghana's economy.”

The statement said; “The Bond should have been over- subscribed by Ghanaians. As it stands it is patently clear that the Government has failed Ghanaians in economic management, not to mention the high bond rate of 23%.”

It said the matter of the bond issue reflects a policy failure of the National Democratic Congress (NDC) government in private sector development, which indeed vindicates the alternative policy of the CPP to provide government guaranteed bonds to the private sector in the development of the productive resources of the country.

The statement said: “This is by such means that domestic demand and export can be satisfied concurrently with an effort to develop the capacity of the private sector for international competition and partnership.”