The Appointments Committee of Parliament is vetting the Vice-President-designate, Paa Kwesi Bekoe Amissah-Arthur.
Peacefmonline brings you live updates of the historic vetting of an incoming vice-president.
Chairman of the Committee Hon Doe Adjaho's Opening Remarks:
Committee�s decision to hold public hearing was unanimous, both the minority and majority members agreed.
We accept condemnation and criticisms of the committee�s decision in good faith but takes exception to using falsehood to accuse the committee of doyuble standards.
Denies categorically the claims that Chief Justice Theodora Georgina Wood was vetted in-camera, however National Security Coordinator was vetted in-camera because of the sensitivity and security of the position.
MINORITY LEADER, Kyei-Mensah-Bonsu:
We find ourselves in unprecedented times that is why people have condemned our decision.
We here seated are convinced that we have chosen the right path.
As the Charmin has explained, wherever is called upon to approve anything, it calls for scrutiny.
Presidential candidates and their running mates subject themselves to scrutiny during elections campaigns so the people scrutinise them.
But today, under the circumstances, the people have no opportunity to scrutinise the nominee so it is only proper that the the people's representatives scrutinise the nominee.
He is also giving a long history of vice presidential vettings in the United States.
Some have argued that in deference to the office of the vice president, vetting should not be in public but we respectfully disagree.
Let me concede that the transition of an incumbent president in Ghana has no ancestry but it is important to set standards that are worth emulating.
Mr Chairman I am done.
Adjaho:
We respect your office as Vice-President so if we ask you any questions concerning the economy whose answers might endanger the economy let us know; we will take your answers in-camera.
QUESTION TIME:
Deputy Minority Leader Ambrose Dery: Are you a Ghanaian by birth?
"Yes I am," he answered.
Mr. Amissah-Arthur shows his Voter's ID to prove that he is a registered voter.
Hon. Ameyaw-Akumfi: Your CV looks like parts were hurriedly put together. There are some spelling mistakes on your CV, and then you didn�t indicate where you can be located.
Veep Nominee: I think you should blame my wife who is from Mfantsiman (laughs)
KT: reads text: tell him Mfantsiman girls take exception to the claims that they are responsible for the spelling mistakes on your CV.
MP for Sissala West takes his turn and wants nominee to give a short message to Ghanaians.
VEEP NOMINEE: I�m committing myself to work in a fair way and diligently.
Atta Akyea: Can you tell the whole country since you assumed position as governor, the financial advice you proffered to government, especially the depreciation of the cedi
VEEP NOMINEE: BoG is responsible for the change rate. We advised the government of steps taken. We have done this especially since we noticed the change rate from January. We took decisions on the monitory policy rate and reserve requirements and we did a number of things. The level of import into Ghana doubled and that put immense pressure on the currency.
Atta Akyea: The banks now tell the customers you can�t take dollar off the country because of the currency. Is there anywhere in the world that somebody has a dollar credit and people can�t have access to their own money. Are you not opening banks
VEEP Nominee: In previous times, government have allowed people to hold deposits in different currencies. But when you go to certain countries you are paid in domestic currencies, but we became very liberal. What we told the banks is that we should put a limit � US$10, 000 � which is a natural figure for us. We have imposed a charge on dollar deposit.
Atta Akyea: You are the keeper of the purse and we are told some people defied President�s orders never to pay the Woyome money.
VEEP Nominee: The BoG did not receive any instruction from Presidency never to pay [the Woyome judgment debt]. If there is money in the account and they say pay Mr. A we are under instruction to pay. If there is no money then we can draw attention that something is wrong. We can�t refuse to pay legitimate instruction if there is credit.
KT Hammond: Kenkey sells at one cedi, gari, plantain, cassava, all the staples, everything, cedi is 2:1 to the Dollar. Are you happy about the state of the economy?
VEEP Nominee: The economy has also chalked great success but prices are high. However for the first time in this country, there has been single-digit inflation for over 24 months consistently. The general level of prices have not risen.
Matthew Prempeh, MP for Manhyia: BoG act 2002 tasks you to licence, regulate and supervise non-banking institutions, but Onward Investments worked for two years and BoG didn�t see, hear or feel. Why is that?
VEEP Nominee: Onward investment was an illegal entity so how can you supervise it? If someone is giving you a yield of 1000% which is too good to be true, the people must stay clear away from such an institution.
Sampson Ahi (MP Juaboso): Why does the Cedi depreciate in every election year?
VEEP Nominee: That is correct observation. Every election year 1992, 1996 and 2000 the cedi depreciates. There is a greater danger of fiscal excess so people take pre-emptive measures. We have had a huge increase in import this year so we have had pressure on the cedi. In May we had more than 5%, but in June it was 3%. We are expecting that this will continue to the rest of the year.
Teye Nyaunu: Is a common currency in ECOWAS really going to come?
VEEP Nominee: Mr. Chairman, with my new position I have to be very careful about it. We have seen the problems that a monetary union has without a fiscal union. We have to be careful we don�t go through a similar thing like others. We are asking consultants to look again into the issue. We have done very well in last two years with respect to convergence criteria. Our currently problem is a monetary union without a fiscal union.
MP for Lower Manya Krobo: How far has Ghana come as far as attaining the convergence criteria for the creation the West Africa Common currency, the Eco and is the Eco Project feasible?
VEEP Nominee: Ghana has done well in especially the last two years, achieving two out of the three main points in attaining the convergence criteria. The sub-regional body has to be careful in designing the common currency. In Europe, countries are grappling their common currency so we have t be careful that we don't allow a small nation to create problems for all of us.
Teye Nyaunu: What are you bringing onboard to solve unemployment?
VEEP Nominee: I thought you were going to wish me four years plus four-and-a-half months. The role of the vice-president is a supporting one. I intend to work hard and I�ll be diligent in the discharge of my duties.
Muntaka, Asawase MP: What can we do with the issue of graduate unemployment?
VEEP Nominee: It�s an important observation. If people go to school and don�t have job it�s going to be a great disincentive. In the design of government programmes we have to develop aspect for labour employment.
Hon. Dominic Azumah, MP for Garu Timpane says he has no question for the nominee.
Hackman Owusu-Agyemang: You explanations on the question of interest rates leaves much to be desired. You set the prime rate but year-in-year-out, the banks have shown interests of over 100 per cent but SME sector make losses because of high interest rate. If you have a prime rate of 16 per cent and yet banks set base rates of 23 per cent, has the Bank of Ghana lived up to its responsibility as a supervisor? What will and can you do as vice president to change the situation where banks offer loans with strangulating interest.
VEEP Nominee: I share your concerns but you have to avert your mind to the fact that when we administered interest rates in this country, it led to the collapse of banks.
I agree with you that we need to work out systems where economic fundamentals are stable to bring down interest rates.
Hackman then asked the nominee his take on gross indiscipline regarding the dissenting views from government officials
VEEP Nominee: I call it plurality. It is good for the party. I am a very fast learner. I am learning very quickly about to campaign.
The president has asked me to do four months and that is what i'm doing. Even one day in this job is a great honour.
Hon. Frema Opare, MP for Ayawaso West-Wougon:
Inflation is in single digit yet prices of goods are high
Quality of the data collected to calculate inflation. Why are we becoming poorer as a nation?
VEEP Nominee: 8% is positive...Prices are rising but at a slower rate There is a huge basket of goods in the economy. From month to month, there are increasing. It means that the prices are going up but at a slower rate. Mr. Chairman, I�m a little bit confused because the per capital income has actually improved/increased so the country is not becoming poorer.
Yieleh Chereh: What are you doing to correct the issue of biometric cards that most banks are refusing?
VEEP Nominee: The BoG is in the process of identifying software that the banks will use to authenticate the various types of biometric forms. We want to be able to find software that will be able to query the database of various institutions.
Joseph Boahen-Aidoo: Why is the cedi's health deteriorating?
VEEP Nominee: It�s an election year and the Cedi has depreciated. We have had a growth in import level that is unprecedented in just one year. That has affected us in a way. It hasn�t been worse than this. Despite that we have only had 17% of depreciation during the course of the year. Also, people out of anxiety, try to move capital out of the country.
Joseph Boahene-Aidoo: Can you inform the Committee of your personal assets?
But Hon. Doe Adajaho, the Chairman quickly steps in saying the constitution is clear as to who is responsible for checking people's properties. If your question is about property you think were acquired illegally acquired, you can ask your question in that regard.
Joseph Boahene-Aidoo: Do you agree that excessive corruption can cause the cedi to depreciate?
VEEP Nominee: I don't know what response to give but I think corruption is something that we all have to worry about to minimize it.
John Jabaah Bennam, MP for Zabzugu-Tatale: Having been Governor of BoG for almost three years, looking at the rate at which the cedi is galloping against the dollar, what can you do as vice president to arrest the situation?
VEEP Nominee: With my experiences, I will bring people together to work to save the situation. We draw out solutions that will inure to the benefit of the people.
John Jabaah Bennam, MP for Zabzugu-Tatale:
Do you have NDC membership card?
VEEP Nominee: Yes, I have a membership card from 1992.
Joe Osei-Owusu, MP for Bekwai: Corruption has been a major challenge to good governance. The mode procurement in the last three years has main been sole-sourcing. What is your take on that?
VEEP Nominee: I don't know if it is correct to say the main mode of procurement is sole-sourcing. But the best thing is not to use sole-sourcing.
Joe Osei-Owusu, MP for Bekwai: There are publications about your sexuality. If you wish to comment, please do?
VEEP Nominee: It is not true. It�s one of the difficulties of being a governor. A number of people think since I�m the boss I can just dip my hands into government purse. They think I have access to unlimited resources and when they come to me I should give them money. I have a former school mate who came to me for money and I refused so he went out to fabricate these stories. I have refused to give him money due to his lifestyle. It is not true and absolutely not true. I have not seen this gentleman for 40 something years. Absolutely it can�t be true. To say that I had an affair in a garage is not true. We never had house boys, but girls. I take it as part of the problem of the office. This has been going on for six months. My lawyers have been following up on this case and the thing is that they don't mention my name.
Minority Leader, Hon. Osei Kyei Mensah-Bonsu: Where would you want to be buried?
VEEP Nominee: I want to live for a few more years. I want to see my great grand children. It�s a question that I have never thought about.
Minority Leader, Hon. Osei Kyei Mensah-Bonsu: Have you resigned from the BoG?
VEEP Nominee: Because I don't know what decision you will take, I will keep that job and wait for your decision. But whatever happens, I don't think that I can go back to the bank because I have shown a partisan stand and going back will make the bank suffer - something I don't want to do.
Minority Leader, Hon. Osei Kyei Mensah-Bonsu: Do you have an NDC card?
VEEP Nominee: I have been a foundation member of the NDC. I know where the original flag of the NDC is because I bought the paint for the flag to be painted.
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