1 minute read
K.T. Hammond replaces Alan as Trade Minister
The Member of Parliament for Adansi Asokwa, Kobina Tahir Hammond has been nominated as Trade and Industry Minister to replace Alan Kwadwo Kyerematen who resigned in January this year to concentrate on his presidential ambition.
The move is part of four new ministerial nominations, two elevations from deputy minister to Minister of State positions and one deputy ministerial reshu e made by President Nana Addo Dankwa Akufo-Addo.
Advertisement
Also nominated by the president to be deputy minister for the Trade and Industry sector is Dr Stephen Amoah, popularly known as 'Sticker', the Member of Parliament for Nhyiaeso in Kumasi and former CEO of the Microfinance and Small Loans Centre (MASLOC).
This is among a list of other nominations, which have been sent to Parliament for vetting and approval before presidential appointment. 4 new nominations, 2 elevations and one deputy ministerial reshu e
It is made up of four new appointments - K.T. Hammond, Dr Stephen Amoah, Bryan Acheampong and Stephen Asamoah Boateng - and two elevations to the position of Minister of State from deputy ministers - O.B. Amoah, MP for Akwapim South and Dr Mohammed Amin Adam, MP for Karaga and one deputy ministerial reshu e - Herbert Krapah from Trade to Energy.
If it continued on its current path, the EU would harm the creditworthiness of European government bonds. When former UK Prime Minister Liz Truss similarly ignored all warnings and sought to increase Britain’s already-elevated national debt with her disastrous tax-cut proposal last year, she spooked investors, crashed the pound, and was quickly shown the door.
Central bankers in Europe and the US have been raising interest rates aggressively over the past 18 months to tame in ation. Following through on Gentiloni’s plans would undermine these e orts. Any new debt is now in ationary and thus potentially devastating for the stability of the euro.
All of this is not to say that policymakers should not pursue worthy causes. But in a stag ationary environment, the way to do so is through taxes or other expenditure cuts – not debt. If the European Commission needs money, it should ask the national parliaments of its member states. And if they refuse, the EU must not borrow it. To do otherwise would put the dream of European uni cation at risk.
