[ 2012-08-06 ]

Amissah-Arthur (middle) answering questions from the Appointments Committee of Parliament

Live Updates: Vetting of Veep-designate Amissah-Arthur just ended
The Appointments Committee of Parliament has just
finished with the vetting of
Vice-President-designate, Mr Kwesi Bekoe
Amissah-Arthur, in a rare duty call for the
Committee.

Mr Amissah-Arthur was nominated for the position
last Tuesday from a list of key contenders
including Mr P.V Obeng and Dr Kwesi Botchwey by
President John Mahama, who ascended to the
presidency following the untimely death of
President John Atta Mills on July 24, 2012.

The over-three hours vetting session saw the
former Governor of the Bank of Ghana answer
questions on the falling value of the cedi,
corruption, his sexuality and the economy
generally.

Below are some of the submissions he made and
happenings surrounding his vetting as captured in
our live updates.

Joy News' Parliamentary Correspondent, Sammy
Darko, reported that the nominee was already in
the House holding in-camera meeting with members
of the Appointments Committee, apparently to agree
on the modalities of the vetting.

A younger brother of the Vice-President-designate,
Jabez Amissah-Arthur, told Joy News the nominee
was an excellent professional who would excel at
the vetting.

He described the nominee as a humble and loving
brother who brings the family together.

There was a busy scene at the forecourt of
Parliament with a platoon of journalists
positioning themselves for the event.

Parliamentarians, family, friends, government
officials were all present.

Mother eulogises son

Mr Amissah-Arthur's mother described him as a
selfless person who detests selfishness.

She said "he treats everybody as himself…he’ll
give whatever he has, he’s a person to trust, I
thrust him. I pray that God should give him wisdom
and vision."

She was worried about the tempestuous nature of
Ghana politics; "the insults…this is why I don’t
like the politics but I’m sure God will use him to
do things right in Ghana."

She prayed God will "give him whatever he needs to
be a selfless man who will think more his country
than himself."

"I told him I give him my blessings and I support
him in prayers…don’t listen to what Ghanaians will
say about you. I know that the Lord who called you
will see you through."

Ablakwa: We have no doubt he will excel, he comes
to the interview with a lot of experience. He
always likes to be in the background. This is a
platform to show what he’s made of; to let people
change their impression about him. Parliament's
Appointment Committee should show some consistency
and not that at some point others would be vetted
in-camera. I believe that parliament will approach
this vetting with discretion in terms of questions
they will allow.

Ama Benyiwa-Doe He’s someone I’ve know for a long
time...he is cool, collected, intelligent; there’s
no doubt he can be the unifying factor; he can
bite when he has to. If the party is able to unite
behind him, it will inure to our benefit.

Kofi Konadu Apreku: This is a very historic
occasion. I worked very close with him on Talking
Point in the '90s and I want to hear from him what
he wants to say. I’m not surprised because he’s a
serious member of the NDC party. What I’m
interested in is his view and how it affects the
economy. NPP has a very good ticket but we will
not assume anybody who is the NDC’s candidate is
less of a threat. He has a record to defend – cedi
depreciating close to 89% in three-and-a-half
years.

KT Hammond: I don’t understand what this whole
furore is all about, the constitution is quite
clear on this… the procedure will be nothing
different, we will go about it as always.

Mr Amissah-Arthur has taken his seat.

Committee members are seated.

He is taking oath.

Committee Chairman, Doe Adjaho welcomes him to
vetting.

Mr Adjaho:

Making opening remarks.
Committee's decision to hold public hearing of
vetting was condemned by some in the public.

We accept condemnation but reject criticism's
based on falsehoods.

Claims that Committee is inconsistent are
unacceptable.

Claims that Chief Justice Georgina Wood was vetted
in-camera are false.

Vetting National Security Coordinator in-camera
was in accordance with best practice.

Decision to vet Amissah-Arthur in public was one
taken by both Majority and Minority sides on the
Committee.

Let us do our best in strengthening the
institutions of governance.

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 Charman has explained, wherever is called
upon to approve anything, it calls for scrutiny.

Presidential candidates and their running mates
subject themselves to scrutiny during election
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.

Are you a Ghanaian by birth? Deputy Minority
Leader Ambrose Dery asked.

"Yes I am," he answered.

Christopher Ameyaw-Akumfi: Your CV looks like
parts were hurriedly put together. There are some
spelling mistakes, and then you didn’t indicate
where you can be located.

In 1983, I was paid by the university but working
for the government at the finance ministry because
the allowances paid by government to the PNDC
secretaries at the time was woefully insufficient
so I opted to be paid by the university.

General outlook of the economy is good.

KT: reads text about Amissah's comment on
Mfantsiman girls which said: tell him Mfantsiman
girls take exception to the claims that they are
responsible for the spelling mistakes on your CV.

KT says to the nominee, 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?

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.

MP for Ho Central: Do you think the security
services are well catered for and are ready for
the elections? How sufficiently poised are you for
them?

I don’t understand your question and how you
expect me to answer but I know they are
professionals and have sworn an oath and know what
to do.

MP for Abuakwa South – Atta Akyea: Can you tell
the whole country since you assumed the office as
governor, the financial advice you proferred to
government regarding the currency.

Amissah: We took decisions on the monetary policy
rate and did a number of things to secure the
exchange rate.

Question: Is there any economy in the world where
one cannot access their own money in dollar, are
you not giving room for suits against the banks?

Amissah: In many countries – like South Africa –
you can’t take dollar at the counter. Whatever
amount one wants has to be changed into cedis.
Everybody was pricing in dollars so we had to
change the rules.

BoG did not receive any instructions from the late
president not to pay.
But people hold their accounts with us and if an
account holder gives us instructions to pay, we
cannot refuse to pay.

MP for Manhyia: BoG Act 2002 tasks you to license,
regulate and supervise non-banking institutions,
but Onward Investments worked for two years and
BoG didn’t see, hear or feel. Why is that?

Amissah: 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: Why are interest rates so high?

Answer: The interest rates have been one of the
problems.
When I took office there were wide variations in
interest rates amongst banks.

We tried to inform people of this so they would
shop for loans but this didn't change the
situation.
We started a formula we think will result in
reduction in interest rates.

MP for Lower Manya Krobo: How far has Ghana come,
as far as attaining the convergence criteria for
the creation of the West Africa Common currency,
the Eco, and is the Eco Project feasible?

Amissah-Arthur: 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 with their common currency
so we have to be careful that we don't allow a
small nation to create problems for all of us.

Dominic Azumah: I have no question, Mr Chairman.

Hackman Owusu-Agyemang: Your 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 rates. 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.

Amissah-Arthur: 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: The criticism of your nomination by a
member of government is gross indiscipline. What
will you do with this indiscipline?

Amissah-Arthur: Well it is good for the party,
different people make their voices heard.

MP for Ayawaso West-Wougon: How come inflation is
single digit yet prices are rising?

Amissah: Because 8% is positive. Prices are rising
but at a slower rate.

Joseph Boahen-Aidoo: Why is the cedi's health
deteriorating?

Amissah-Arthur: We have unprecedented levels of
imports. Also, people out of anxiety, try to move
capital out of the country.

Question: Can you inform the Committee of your
personal assets?

Committee Chairman intervenes; Constitution is
clear as to who is responsible for checking
people's properties. If your question is about
property you think was acquired illegally, you can
ask your question in that regard.

Question: Do you agree that excessive corruption
can cause the cedi to depreciate?

Amissah-Arthur: I don't know what response to give
but I think we all have to work to minimise
corruption.

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?

Amissah-Arthur: With my experiences, I will bring
people together to work to save the situation. We
will draw out solutions that will inure to the
benefit of the people.

Do you have NDC membership card?

Amissah-Arthur: Yes, I have more than one NDC
Membership cards.

Joe Osei-Owusu: Corruption has been a major
challenge to good governance. The mode of
procurement in the last three years has mainly
been sole-sourcing. What is your take on that?

Amissah-Arthur: 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: There are publications about your
sexuality, if you wish to comment, please do.

Amissah-Arthur: It is absolutely untrue. There are
people who think that as Governor of the Bank of
Ghana, I have access to unlimited resources and
when they come to me I should fetch money for
them. I have this former schoolmate who came to me
for money and I refused so he decided to go out
there and fabricate these false stories about me.
I had never lived in a house with a garage so to
claim that I had an affair in a garage can only be
false. This gentleman I hadn't seen him for over
forty years; I met with him only briefly and gave
him some small money. People do these things
thinking that somebody will come and give them
money but I am not going to pay money to anybody.
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.

Kyei-Mensah-Bonsu: Where would you want to be
buried if you die?

Amissah-Arthur: I want to see my great grand
children so it is a question that I have never
thought about.

Kyei-Mensah: Were you officially seconded from the
University?

Amissah-Arthur: The university was closed and yet
we were paid. So we were paid for doing nothing.

Kyei-Mensah: Have you resigned from the BoG?

Amissah-Arthur: 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.

Kyei-Mensah-Bonsu: Do you have an NDC card?

Amissah-Arthur: 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.

Source - Joy News

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