Former Finance Minister Seth Terkper has denied claims that he said there is nothing posaotive about lower inbflation rate.
He explained thaty when a country redenominates the currency and rebases or changes the basis for calculating inflation and Gross Domestic Product (GDP), it bears reminding and modesty in taking credit, as achievements are compared.
He was commenting on a claim made to him in a tweet that “when you follow the data, you can see a positive pursuit of inflation targeted framework even though I am not sure it was the BoGs main focus compared to yesteryear’s constant double-digit headline inflation figures.”
In response, Mr Terkper said “I don’t recall saying there was nothing positive about a lower rate of inflation. I only said, when you redenominate the currency and rebase or change the basis for calculating inflation & GDP, it bears (a) reminding; and (b) modesty in taking credit, as you compare achievements.”
By Laud Nartey|3news.com|Ghana