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…
From her humble beginning in Sunyani in the Brong Ahafo region, a senior high female graduate from the Twene Amanfo Senior high in the Brong Ahafo Sunyani and a Ghanaian now boasts of being one of the most popular Made-in-Ghana shoe brands and has the most number of celebrity endorsements. Sandra Ozwald, CEO of Saint Ozwald
After Sandrah Ozwald completed school in 2013, her parent couldn't have enough money to help her continue school so she planned to do something for herself by selling ice cream, groundnut cakes or food. Back at the senior high, Sandra used to make groundnut cakes, condensed toffees and ice cream to support herself since her mother couldn't provide all for her.
With 12 siblings and the only girl child (2nd born) among them, and whiles planning which of these to sell, Sandra attended a friend’s wedding and the grooms shoe looked so attractive to her.