The Director of Research at the Institute of Economic Affairs (IEA), Dr. John Kwakye, has expressed worry at the way the Ghana cedi is losing value to the US dollar and other major foreign currencies, saying, “sadly the cedi is being irretrievably destroyed”.
According to him, it is sad that economic managers cannot come up with a plan to arrest the situation.
In a tweet, Dr. Kwakye said “sadly the cedi is being irretrievably destroyed. And all we do is look on. Why can’t our economic managers come up with a plan to arrest the situation?”
He further pointed out that the ruling NPP government and the opposition NDC are the banes of the progress of the country, adding, the nation needs a leader willing and capable of pursing the national interest without being shackled by political influence.
“NPP-NDC political capture is the bane of our progress as a nation. We need a leader who is willing and capable of pursuing the national interest without being shackled by political influence”.
He concluded that the country should not expect manner to fall from heaven to address its challenges, adding “we should solve our problems ourselves”.
The woes of the Ghana cedi continued unabated as the local currency traded at ¢13.75 to the dollar on the forex market.
This has triggered protests and the closure of shops by members of the Ghana Union of Traders Association (GUTA).
