Following the censure of Mr. Ken Ofori-Atta, the Finance Minister, by Members of Parliament (MPs), the Ghana Cedi has started to strengthen against the US dollar.
The Speaker of Parliament, Mr. Alban Bagbin, stated that the measure had given the public confidence that steps were being made to prevent the cedi from further depreciating against the major foreign currencies.
The Speaker made the comments when he dismissed a challenge to the filing of a motion to reprimand the minister of finance.
He said he had rightly admitted the motion, which had followed precedence of the House.
“Just because people are given confidence that action is being taken, the cedi has gained some value, and Parliament should be commended,” Speaker Bagbin said.
“It had climbed to about 15 to a dollar but has dropped to around 13, that is a serious gain for this country.”
“And it’s because there is some confidence being given to the people that action is being taken to rectify the wrongs.
He called for all hands on deck to ensure the cedi stabilized to benefit everyone.
Mr Alexander Kwamina Afenyo-Markin, Deputy Majority Leader, had raised an objection to the motion in the Order Paper of the House, which was sponsored by Alhaji Mohammed-Mubarak Muntaka, and 128 other MPs.
He argued that a motion should not be accompanied by allegations and that if the House wanted to rely on those allegations, they must be factual.