Former President John Dramani Mahama, the presidential candidate of the National Democratic Congress (NDC), has said his government would introduce a fixed exchange rate regime if he wins the December 7, 2024 Election.
According to him, this would address the volatility in the exchange rate, tackle the constant price hikes and ensure certainty in the market.
Mr Mahama made this declaration at separate engagements in Accra on Friday when he addressed spare part dealers at Abossey Okai and Kokompe in the Ablekuma North and Central constituencies respectively, on the third leg of his campaign tour of the region.
The campaign also took the former president to the Ablekuma West and South constituencies where he interacted with fisher folks and other interest groups.
Speaking in the Twi dialect, first at Kokompe, the former president explained how the fixed exchange rate system would work.
“We will introduce the fixed rate policy where the exchange rate will be pegged at a certain amount for a period. During this period, you whoever is clearing your goods at the port will pay that corresponding amount based on the fixed rate and this will be revised periodically,” he said.
The NDC government he said oversaw the expansion of the Tema Port in attempts to ease the economic burden of importers, only for the NPP government to introduce burdensome taxes that were collapsing businesses.
Mr Mahama bemoaned the deteriorating economy, and assured that the next NDC government would scrap taxes like the Covid levy and fix the mess the current government has landed the economy.
“The economy is in tatters and that is why when people’s vehicles break down they are unable to patronise you for parts, rather, they’ll prefer to park the car and use public transport.
“We’ll revamp the economy again so that people can once again have the purchasing power to patronise your businesses,” he stressed.
Addressing a mini rally at Shiabu, in the Ablekuma West constituency, which has been afflicted by tidal erosion, the former president said his government would construct a sea defence wall to salvage the community from the ocean.
The former President said the community was part of the previous NDC government’s coastline protection programme, and should the party be returned to power, the programme would be revisited.
He announced that the next NDC government would scrap the closed sea policy for canoe fishermen and focus on the trawlers and bigger vessels who deplete the fish stock.
“We’ll close it to the trawlers and bigger fishing vessels because they are the ones who are destroying the stock. The law says they should not fish within 12 nautical miles off the coast and yet they’ve been coming there and that is what is destroying the fishing resources for us,” Mr Mahama stated.
In the Ablekuma South constituency, whilst assuring that he would work 24/7 to get Ghana back onto the path of progress and development, Mr Mahama said transparency would be his guiding principle in both good and challenging times.
BY JULIUS YAO PETETSI
