The Deen , school of Graduate studies at the University of professional studies, Accra( UPSA), Professor John Kwaku Mensah Mawutor, has explained that an economy on the strength of it’s currency.
He added that, managers of Ghanaians economy since 1993, have failed to tackle the fundamental problem affecting the economy which is over reliance on importation. He said this on the key points on TV3, Saturday August 20.
The Cedi crossed ¢10 per dollar mark as at Friday August 19 to trade ¢10 .01 per dollar in some forex bureau.
The Bank of Ghana (BoG) in a statement called for calm as it has introduced measures to resolve the fall of the Cedi.
Meanwhile, president Nana Addo has assured that measures are being taken to resolve the fall of the Cedi.
He explained that, An Economy that heavily runs it’s consumption on external producers will always struggle improving on the strength of it’s currency.
Bainamultimedia/Ilham Abdul-Wakil
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