General News of Thursday, 24 October 2024
Source: 3news
Dr. John Kwakye, Director of Research at the Institute of Economic Affairs (IEA), has called on economists to propose solutions to stabilize Ghana’s struggling cedi.
In a series of posts on his X page, Dr. Kwakye expressed frustration over the cedi’s continued depreciation despite the country’s large pool of economists, urging a national dialogue.
He criticized the lack of action and stated that economists have a duty to help rescue the currency, which has fallen to GH¢16.40 per USD, with a year-to-date loss of 26%. Recent forex auctions have failed to stabilize the currency.