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 place to arrest the Ghana cedi depreciation.
According to him, arresting the cedi’s depreciation is the responsibility of the government, yet the citizenry also have a role to play to ensure the stability of the currency.
He questioned why most local industry players or some business entities charge in dollars and other foreign currencies, instead of the Ghana cedi.
Mr Bamba stressed that, the act of transacting businesses locally in dollars, for instance at hotels, ports and some government institutions, he said, contributes to the fall of the cedi against the US dollar and other major foreign currencies, as a result of which doing business in the country is becoming more difficult and unattractive.
Speaking to the media in Kumasi, he said the rate at which the cedi is falling against all the major currencies is affecting doing business and is generally affecting the socio-economic growth of the country.As a result government is also becoming unpopular.
He entreated government, especially the economic management team, led by the vice President Dr.Alhaji Mahmud Bawumiah, to put pragmatic measures in place to stop transacting business in dollars locally.
