BoG lied about pumping US$20 million to save cedi – Casely-Hayford
Financial analyst, Sydney Casely Hayford, has accused the
Bank of Ghana (BoG) of lying to Ghanaians that it is injecting
US$20 million daily into the money market to stabilise the
The central bank announced the intervention Thursday after the cedi
fell more than 20% in value to the major trading currencies between
January and June 2015.
According to the bank, instead of making US$14 million available to
banks weekly, it will now be giving them US$20 million.
We expect the cedi to stabilise by the end of the first half of the
year when we have some major offshore inflows,” the Governor of the
BoG, Dr Henry Kofi Wampah, told the Daily Graphic.
But Sidney Casely-Hayford, has questioned BoG’s capacity to make
US$20 million available daily.
Speaking Saturday on Accra-based Citi FM’s The Big Issue on “They
(BoG) are lying to us, they can’t afford US$20 million a day,” he
According him, Ghana would not have had to go to the IMF for
bailout if BOG could make US$600 million in a month.
“If you have US$600 million, why are we going to take US$918
million from the IMF? It’s not possible. The Bank of Ghana cannot
make US$600 million in a month,” he stressed.
Mr Casely-Hayford added that the inability of the government to
raise US$45 million to pay Bankswitch was an indication that it did
not have money.
“US$20 million a day will translate to about US$600 million in a
month. Where is the money coming from? This is where the
whole problem starts. They can’t even find US$45 million to pay for
the Bankswitch case. If you had US$20 million to sink why would you
not lend government US$45 million to pay for the Bankswitch case
and avoid the so called GH¢1 billion debt that we are hearing it’s
supposed to come,” he said.
The Deputy Attorney-General and Member of Parliament for Bolgatanga East, Mr Dominic Ayine has filed a defamation suit at an Accra High Court against a Facebook commentator, Evron Hughes. In Mr Ayine’s statement of claim, sighted by Graphic Online, he accused Mr Hughes of defaming him in a post he authored and published on Facebook on December 21, 2015, titled “RE: AMERI TRANSACTION”. According to the Deputy A-G, the “false and malicious” post has provoked “public disaffection” against him and exposed him to public ridicule and contempt. Describing Mr Hughes as a “self-styled social media blogger and a social commentator”, Mr Ayine said the Facebook post had brought his hard-won reputation “as a respected politician, teacher and lawyer” into “hatred, ridicule, odium, discredit, contempt, opprobrium and reproach”. The Deputy A-G said the “defamatory words” were authored with the sole intent to reduce him in the estimation of all right thinking Ghanaians, adding that he had received numerou…
The Public Interest and Accountability Committee (PIAC), the mandated body to monitor the use of Ghana’s oil revenues has been asked to go to court to seek strict compliance of the laws covering accountability of oil funds in the country.
According to Dr. Steve Manteaw, the Campaign Coordinator for ISODEC and a member of the PIAC , it’s time for PIAC as a body to consider going to court to compel institutions responsible for managing Ghana’s oil revenue to answers some questions concerning the expenditure of oil funds.
He pointed out that there are several recommendations made by the PIAC in its past reports on management of petroleum revenues, and a lot of these recommendations has received no positive response from the institutions concerned.
He disclosed this to the Daily Express at a three-day workshop on Interrogating the 2016 Semi Annual PIAC Report at Koforidua in the Eastern Region.
The workshop was organized by the Institute of Financ…
Some staffs of the Graphic Communications Group have petition the Election Dispute Adjudication Committee of the Ghana Journalists Association (GJA) concerning their grievances covering issues affecting the association.
The staffs of the company seeks some clarification on the mandate of the current executives of the association.
BELOW IS THE FULL STATEMENT (Not edited)
DISPUTE ABOUT THE MANDATE OF THE EXECUTIVES OF THE GHANA JOURNALISTS ASSOCIATION AND THE LEGALITY OF THE GJA ELECTIONS OF 2017
We the undersigned write to place before you our grievances covering issues affecting the Ghana Journalist Association, and we hasten to add that our grievances are placed before you in furtherance of our constitutional duty under Article 11 (e) of the 2004 Constitution of the Ghana Journalists Association.
We first of all seek clarification on the mandate of the current executives of the Association to be in office and take decisions to affect the wellbeing and welfare of the Associ…