General

Traders to stage demo against govt in two weeks

In an urgent request to the government, a coalition of trade associations from throughout the country has united to lower the exchange rate from GHC 15.50 to GHC 10.00.

They contend that small and medium-sized enterprises, which are now grappling with high operating costs as a result of the volatile currency values, depend on this reduction to survive and expand.

Due to the increased cost of imports due to the high exchange rate, several businesses are on the verge of closing and job losses are occurring.

The dealers think that a decrease in the exchange rate would stimulate the economy overall, encourage investment, and assist businesses grow.

Traders to stage demo against govt in two weeks

The value of the cedi has been falling historically. GHC was at 1.057 to the dollar in 2008; by 2012, it was worth 1.972, and by 2016, it was worth 3.945.
It has skyrocketed to GHC 15.17 under the current government, upsetting consumers and business owners.

Traders are essential to innovation, employment development, and economic expansion.

They did, however, mention in a news release that the present exchange rate poses a threat to their future.

The alliance of traders is urging the government to put business interests first and act swiftly to reduce the exchange rate.

They contend that these actions would provide faltering businesses a lifeline.

Additionally, the trade associations have threatened a massive nationwide protest if the government does not act to address the problem within two weeks.

 

Akosua Boatemaa

I'm Yours Truly, Blogger Akosua Boatemaa. I'm here to feed Your eyes and Ears with Authentic News Updates.

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