Mr. Kwadwo Bamba, a member of the ruling New Patriotic Party (NPP) national operations team has asked the Economic Management Team of the ruling government to put in pragmatic measures to prevent people from transacting business locally in dollars or any other foreign currency.
According to him, arresting the dollar is the responsibility of the government's Economic Management Team, yet the Ghanaians has a role to play to ensure the stability of the cedi.
He argued that most of the local industry players or some business entities have decided to charge in dollars and other foreign currencies instead of the Ghana Cedis.
"The act of transacting businesses locally in dollars in most of our hotels, ports, and some of the government institutions are contributing to the rapid fall of the cedi and thus making it difficult and unattractive to transact business in the country," he bemoaned.
Speaking in an interview with the media, he noted that the rate at which the cedi keeps falling behind all the major currencies and making business in the country becoming difficult and unattractive is generally affecting the socioeconomic growth and making the government unpopular.
"The Economic Management Team (EMT) lead by the vice President, Dr. Alhaji Mahamudu Bawumia, should develop pragmatic measures to prevent businesses from transacting business in foreign currencies.
"I believe that if they are able to achieve that it will enable the cedi to appreciate in value at a very fast rate, boost investor confidence and help the economy to gain its grounds," he added.
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