Ensure the exchange rate is subjected to intermittent shocks—Dr Atuahene

Dr. Richmond Atuahene, a banking consultant, urged the government to subject the exchange rate to periodic shocks to improve trade terms and the net external position.

Speaking at the GNCCI Dialogue Series, he emphasized the need for economic diversification, investment in non-cocoa sectors, and better tracking of foreign remittances.

Atuahene highlighted that loose fiscal and monetary policies lead to significant exchange rate depreciations. He recommended selective import substitution, reduced fiscal deficits, and increased surrendering portions from mining companies.

He also called for increased local production, reduced imports, agricultural modernization, and a supportive business environment to stabilize the Cedi.