CEDI DEPRECIATION: BAN ALL BUSINESS CHARGING IN FOREIGN CURRENCIES-AYARIGA TO GOV’T
The flag bearer of the All People’s Congress (APC), Hassan Ayariga, has called on the government to implement urgent measures to solve irregularities the Ghana cedi is facing against the foreign currencies.
The APC flag bearer has noted that the Ghana cedi had experienced significant depreciation against major currencies such as the US dollar, Euro, and British pound, leading to increased costs of imported goods and services, contributing to inflation and economic instability.
He stressed that the high demand for dollars had led to a scarcity of foreign exchange reserves, making it difficult for businesses to access the necessary funds to operate effectively.
He also alleged that the hoarding of foreign currencies by politicians and businessmen in their homes was greatly affecting the availability of foreign currencies.
The APC leader therefore advised the government to implement policies aimed at promoting economic stability, reducing corruption and mismanagement of resources, and investing in key sectors such as production, manufacturing, and industrialization.
To achieve this, he urged the government to ban all Forex trading, shut down all businesses that charge in dollars, stop the quotations and awards of contracts in dollars, ban the opening of foreign currency accounts, and close down all foreign currency accounts. Additionally, he called for a stop to all hotels, businesses, airlines, landlords, schools, automobile companies, and shipping lines quoting and charging in foreign currencies.
