Ursula Owusu-Ekuful, Minister of Communication has justified the drastic measures the Akufo-Addo government to save the financial sector from a total collapse.
According to the Communications Minister, government had to take drastic but necessary measures to safeguard funds of depositors and to avoid collapse of Ghana’s financial sector.
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“We inherited a bad financial sector and we decided to take drastic measures to fix things and that was why we undertook the banking sector clean up,” she explained.
Speaking on Adom TV’s Badwam, the Minister who doubles as MP for Ablekuma North said Ghana needed a visionary President like Nana Akufo-Addo and a bold Bank of Ghana governor for the banking sector clean-up.
“If we stood aloof and did nothing like the NDC with regards to the financial sector, things would have collapsed on all of us and we would have completely run down the economy,” she said.
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On the GHc14 billion invested in the banking sector clean-up, Tthe Minister added “the money is being used to support the CBG in order to keep them in business, pay their debts and also undertake liquidation processes”.