By News Desk
The New Patriotic Party (NPP) Member of Parliament (MP) for Nhyiaeso constituency in the Ashanti region, Dr Stephen Amoah, has described as evil, outmoded and ungodly, vituperation and thoughts inciting instability in the country.
“It is extremely uncalled for to even find coup in the vocabularies of people who claim they mean well for Ghana. There is no justification for such socially and morally unacceptable statements being made. The economic reasons given by those commentators do not warrant a coup in any jurisdiction; including Ghana. There is hardship in Ghana just like any other country- both developed and developing economies,” the Investment Banker stated in a statement he released yesterday.
Sticker as the MP is fondly referred to quizzed, “In any case can anybody tell which year there was no hardship in Ghana and no Ghanaian experienced hardship? In fact, most of the economic performance indicators NPP government under President Nana Addo inherited have been improved. Interest rate was over 30% close to 40% but now down to about 21%.”
Inflationary rate, Dr. Stephen Amoah expatiated, was about 15.5% but far less at present, and that, “Policy rate of the Bank of Ghana was about 25.5% higher than today’s lending rate. Reserve has more import cover today and Treasury bill rates are about 1000 basis points lower than within the same timeframe and many more. The only one with challenge is the debt to GDP ratio which the government cannot be reproached. Impaired productivity as a result of COVID which stifled market and industry operations for over 20 months will definitely affect GDP growth. Government has to definitely spend out of obligation and necessity. Private sector sacked over 40,000 workers leading to remarkable reduction in PAYE and corporate taxes. We had revenue short falls over 11 billion Ghana cedis. Government has been paying workers for many months who are not working because of COVID. Even at present some of the workers are running two-week shifts.”
The Nyiaeso MP intimated that Ghana is not ready for coup and its devastation. “Let’s try and visualize what is going on in Ukraine, Burkina and other parts of the world where democracy is under attack. Ghanaians want peace, tranquility and coexistence. I can say that Nana Addo’s government has done better than what he took over from the NDC from the economy through infrastructure and redistribution policies both kind and cash,” he cautioned.
Read excerpts of Dr. Stephen Amoah’s statement below:
COUP MONGERS CRYING WOLF OVER NOTHING
It is extremely uncalled for to even find coup in the vocabularies of people that claim they mean well for Ghana. There is no justification for such socially and morally unacceptable statements being made. The economic reasons given by those commentators do not warrant a coup in any jurisdiction including Ghana. There is hardship in Ghana just like any other country both developed and developing economies. In any case can anybody tell which year there was no hardship in Ghana and that no Ghanaian experienced hardship? In fact, most of the economic performance indicators NPP government under President Nana Addo inherited have been improved. Interest rate was over 30% close to 40% but now down to about 21%. Inflationary rate was about 15.5% but far less at present. Policy rate of the Bank of Ghana was about 25.5% higher than today’s lending rate. Reserve has more import cover today and Treasury bill rates are about 1000 basis points lower than within the same timeframe and many more. The only one with challenge is the debt to GDP ratio which the government cannot be reproached. Impaired productivity as a result of COVID which stifled market and industry operations for over 20 months will definitely affect GDP growth. Government has to definitely spend out of obligation and necessity. Private sector sacked over 40,000 workers leading to remarkable reduction in PAYE and corporate taxes. We had revenue short falls over 11 billion Ghana cedis. Government has been paying workers for many months who are not working because of COVID. Even at present some of the workers are running two-week shifts.
What is that which did not warrant a coup in Ghana in 2016, when there was no COVID that does so at present. At least 100,000 youth who would have been are accessing free SHS under this regime. NHIS nearly collapsed but highly revived just as other social intervention policies.
Abronye was arrested when he made unfounded allegation against former President Mahama as well as others that made similar or insolent/unfounded allegations against other high-profile persons. There hasn’t been any other time such as this.
So, there should be a coup in UK or US because their economies are woefully underperforming their benchmarks? Prices of goods and services in UK and US are all highly inflated. Let us all be careful not to give precedence to our individual or group interest over the interest of the state or just out of hatred. Ghana is not ready for coup and devastation. Let’s try and visualize what is going on in Ukraine, Burkina and other parts of the world where democracy is under attack. Ghanaians want peace, tranquility and coexistence. I can say that Nana Addo’s government has done better than what he took over from the NDC from the economy through infrastructure and redistribution policies both kind and cash. Fuel prices is over 100 dollars the highest over seven years now influenced by external market so how can that induce a coup?
I am not saying all is well under this government but to mention a coup is mischievous and unacceptable. Under no circumstance should anybody think of a coup in Ghana. Four years is short enough for people to vote for governments or opposition parties. Our democracy is vibrant and grown. The option of a coup is evil, outmoded and ungodly.
Dr. Stephen Amoah
