Mr. Kwadwo Bamba, Member of the ruling New Patriotic Party (NPP) National operations team has tasked the economic management team of the ruling government to put pragmatic measures in arresting the Ghana’s cedi depreciation on regular bases.
According to him, arresting the cedi depreciation is the responsibility of the government machinery, yet the citizenry has a role to play to ensure the stability of the cedi.
He argued why most of the local industry players or some business entities decided charging in dollars and other foreign currencies instead of the Ghana’s cedi.
Mr Bamba stressed that, the act of transactions businesses locally in dollars in most of our hotels, ports, and some of the government institutions he said contributing to the fall of cedi as compared to the US dollars and other foreign currencies, hence making doing business in the country becoming difficult and unattractive.
Speaking with the media in Kumasi, he was of the view that, the rate at which the cedi keep falling behind all the major currencies and making doing business in the country becoming difficult and unattractive is generally affecting the socioeconomic growth and making the government unpopular.
He entreated the government machinery especially the economic management team lead my the vice President Dr. Alhaji Mahmud Bawumiah, to put pragmatic measures in stopping doing business transaction in dollars locally by the citizenry and other agencies to stop, and believe if that is able to achieve the cedi depreciation at the fastest rate would end and start appreciating to the US dollar and other major foreign currencies on the market. Story by Ernest Anane,