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17THJANUARY2020FRIDAYCURRENCY PARIS CODE BUYING SELLINGUS Dollar USDGHS 5.5340 5.5396RATES Pound Sterling GBPGHS7.18107.1904EuroGBPGHS5.70055.705710DAILY HERITAGE MONDAY, JANUARY 20, 2020WWW.DAILYHERITAGE.COM.GHFX Development Committee not takingover BoG’s job • Says Adu BoahenTHE DEPUTY FinanceMinister,Charles Adu Boahen,has stated that the FXDevelopment Committee,established bythe Finance Ministry to look intopolicy measures and solutions toprevent the recurring depreciation ofthe cedi, is not usurping the powersof the country’s central bank, theBank of Ghana (BoG).The establishment of the committeefollows a promise made bythe Finance Minister last year thatthe government would establish a bipartisancommittee to investigate thestructural causes of the cedi depreciationand propose measures accordingly.But addressing the press at theinauguration of the committee, theDeputy Finance Minister stressedthat “the formation of this committeeis not to infringe on the independenceof the BoG in its foreignexchange operations.”He stated that if anything at all,the work of the committee is tocomplement the efforts of the centralbank in curtailing the usual poorperformance of the cedi against itsforeign counterparts.The cedi last year depreciated bymore than 12.7 per cent, the worstperformance since 2015 when thecedi depreciated by more than 14.6per cent.The work of the committee, theDeputy Minister explained, is to reviewthe current foreign exchange(FX) regime, identify the inherentconstraints in the system and offerworkable alternatives by way of policiesand programmes which potentiallywould reduce FX risks in theeconomy.“The committee is also to criticallylook at the role of automationand digitization as a critical enablerof FX reforms,” he stated.The membership of the committeeis drawn from the Office of theVice President, Bank of Ghana,Agriculture Ministry, Ghana Unionof Traders Association (GUTA), Associationof Ghana Industries, andsome universal banks among otherkey stakeholders.The committee is chaired by theFinance Minister, Ken Ofori-Atta.Source: CitiFmMTN apologises for data failureMTN GHANA has apologisedfor the data challengesits customers havefaced since Thursday, January16.Customers of thebiggest telecom firm inGhana have had no internetsince Thursday. Manyof the customers havetaken to social media toexpress their frustration.In a statement, MTNsaid “international underseafibre cable cut” is thereason for the challenge.It added: “MTNwishes to apologise tosubscribers across thecountry for challengesthey are experiencing inaccessing data servicesand international outboundcalls. This is as aresult of international underseafibre cable cut.”“MTN wishes to apologise tosubscribers across the countryfor challenges they areexperiencing in accessingdata services and internationaloutbound calls. This isas a result of internationalundersea fibre cable cut.
WWW.DAILYHERITAGE.COM.GHDAILY HERITAGE MONDAY, JANUARY 20, 2020 11PoliticsDo not mind anything that anyone tells you aboutanyone else. Judge everyone and everything foryourself —Henry JamesAkufo-Addo leaves forUK-Africa summit in LondonBY KWAME ACHEAMPONGPRESIDENT AKUFO-ADDO last Friday leftthe country to attendthe UK-Africa InvestmentSummit beingheld in London, in theUnited Kingdom.The UK-Africa InvestmentSummit, being hosted by BritishPrime Minister, Rt. Hon. BorisJohnson, MP, today (Monday), January20, will bring together “businesses,governments andinternational institutions to showcaseand promote the breadth andquality of investment opportunitiesacross Africa”.Whilst in the UK, PresidentAkufo-Addo will deliver, on Tuesday,January 21, the keynote addressat the Ghana InvestmentOpportunities Summit – a summitwhich aims to bring delegates, especiallyfrom the United Kingdom,to explore investmentopportunities in Ghana.The President will then travelto Davos, Switzerland, at the invitationof the Founder and ExecutiveChairman of the WorldEconomic Forum, Prof. KlausSchwab, to participate in the 50thanniversarycelebration of theWorld Economic Forum AnnualMeetings being held from Tuesday,January 21, to Friday, January 24.The Davos meeting has becomean iconic global forum,which brings together world leadersin politics, business, financeand academia to deliberate onmatters affecting the global community.The President was accompaniedby the Minister for ForeignAffairs, Shirley Ayorkor Botchway;Minister for Finance, KenOfori-Atta; CEO of the GhanaInvestment Promotion Centre,Yofi Grant; and officials from theForeign Ministry and the Presidency.The President will return toGhana on Sunday, January 26,2020, and in his absence, the VicePresident, Alhaji Dr MahamuduBawumia, shall, in accordancewith Article 60(8) of the Constitution,act in his stead.Starrfm.com.ghPARLIAMENT OF GHANAFOURTH SESSION OF PARLIAMENT(COMMENCEMENT) INSTRUMENT, 2020KNOW YE ALL MEN that in exercise of the powers conferred on the Speaker by clause (1) ofarticle 112 of the Constitution, I, Joseph Osei-Owusu, First Deputy Speaker of Parliament, bythis Constitutional Instrument, appoint Parliament House, Accra, to be the place, and ten o'-clock in the forenoon of Tuesday, 28th January, 2020 to be the time at which the Fourth Sessionof the Seventh Parliament of the Fourth Republic shall commence.Given under my hand this 14th day of January 2020, in the Office of the Speaker.Hon. Joseph Osei-Owusu(First Deputy Speaker)
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January 20

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