The Speaker of Parliament, Alban Bagbin says the petition filed by the Minority side for a vote of censure against the Finance Minister, Ken Ofori-Atta has resulted in the Ghana cedi appreciating against the US dollar.
The Minority in Parliament had filed a motion for a vote of censure against the Finance Minister on allegations of conflict of interest and fiscal recklessness leading to the free fall of the cedi.
In his ruling on whether or not the motion was appropriately laid, the Speaker underscored the role of Parliament in reviving Ghana’s economy and said: “because of this motion, you know what has happened to the state of our Cedi? Just because people are gaining confidence that action is being taken, the cedi gained some value and Parliament should be commended.”
“It [the Cedi] climbed from about GH¢16 to a dollar to around GH¢13. That is a serious game for this country, and it is because there is some confidence being given to the people that action is being taken to rectify the wrongs,” he further elaborated.
He also entreated Members of the House to play their roles “properly and effectively and at the end of the day, we will all benefit from it.”
The ongoing crisis has seen inflation reach 37.2 percent and the cedi tagged as the worst-performing currency in 2022 with its trading value at around GH¢14 to a dollar.
The motion was filed a day before a group of Majority MPs also came out asking for the removal of the Finance Minister as well as the Minister of State at the Finance Ministry, Charles Adu Boahen.
Other groups have also joined the call for the removal of the Finance Minister, with the Member of Parliament for North Tongu alleging that president Akufo-Addo is refusing to accept the resignation of Charles Adu Boahen, Minster of State at the Ministry of Finance.
