14 August 2014

Ghana: Govt Lashes Foreign Media Over Bad Reporting On Economy

Government has expressed concern at the alleged misinterpretation of the performance of the Ghanaian economy by some international media houses.

It cited British news agency, Reuters, as well as Financial Times, another British publication, of misrepresenting the facts to create the impression that the economy was the worst performing in the world, following the country's decision to seek assistance from the International Monetary Fund (IMF).

The Minister of Communications, Dr. Edward Omane Boamah, said the government was particularly unenthused by suggestions that the Ghana cedi had fallen by 40 percent this year, insisting the cedi has fallen by 22.9 percent instead.

"According to the Bank of Ghana, the cedi traded at 2.34 against the US dollar in January 2014, and as of Friday 1st August, 2014, it stood at 3.035 to the US dollar, reflecting a cumulative depreciation of 22.9 percent over the period," the statement clarified.

Government assured all journalists, both local and international, that the government's doors were always open for them to fact-check their stories with relevant sector ministries before they publish them. "This would do as much good for their reputation as it would the quality of discourse that often relies on their stories," Boamah said.

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