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“Dissolve That Useless Cedi Depreciation Committee” – Economist

NPP stalwart and economist, Kwame Pianim is of the opinion that the committee that was recently set up to investigate the Cedi’s depreciation is totally useless.

The former chief of staff said the 40-member committee is just for a public stunt. “40 member committee? Are we serious? In the 4th year of this administration?” he quizzed?

Mr. Kwame Pianim also lambasted the NPP government for taking forever to prosecute the persons who caused the mess in the banking sector.

Mr. Pianim urged government to speed up the processes in prosecuting the culprits. He said the quick prosecution of the offenders will ensure confidence in the system. “How long has it taken us to put some of these people on trial? The government has spent a lot of taxpayers’ money in order to pay for some of these difficulties,” he noted.

Ghana’s banking and financial sector faced a thorough cleanup between 2017 and 2019. The Bank of Ghana within the period revoked the licenses of commercial banks, savings and loans, micro finance and fund management companies for being insolvent and other reasons.

Mr. Pianim also suggested that the Akufo-Addo led the administration should print money to pay claims of depositors of the financial clean up. According to the renowned economist, the printing of money by the central bank to pay depositors will not affect the economy or inflation.

 

“My suggestion was to have let the Bank of Ghana find a means to pay the affected customers even if it involved the printing of mone. We are making it difficult for the NPP to win this [2020] election,” he said in an interview with Citi News on Monday, January 21, 2020.

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