The Majority in Parliament has called on traders to consider reducing the prices of goods.
The Deputy Majority Leader, Alexander Afenyo-Markin, appealed to traders following the appreciation of the cedi against all major trading currencies as a result of deliberate policy interventions introduced by the government over the last few months.
Just a few months after the local currency was ranked as the world’s worst-performing currency, the Ghanaian cedi bounced back from just over 14 units per dollar.
The cedi declined by over 50 percent in value against major currencies making it the worst-performing currency globally.
This forced government and the Bank of Ghana to begin monitoring inflation developments by responding appropriately to contain the price pressures.
Afenyo-Markin speaking on the increment of goods in the market called for a collaborative effort in reviving the economy and appealed to the traders to reduce prices.
« I heard the GUTA President calling on members to reduce prices. I will repeat the same call to the businessmen and women, entrepreneurs and traders. If it was out of uncertainties and the currency market, you felt that you should increase prices for your goods, today things have changed.
« It is by reducing them that we will all benefit from the economy. So it is my humble appeal that prices are reduced so that the ordinary Ghanaian can afford them, » he told Citi News.
Meanwhile, President Nana Addo Dankwa Akufo-Addo has assured that the government will continue to work hard to maintain and sustain the gains made.
He stated that « the strengthening of the cedi has not happened by chance, but through the implementation of deliberate policies by government, in collaboration with the Bank of Ghana. »
Pulse
