The economy of Ghana

I recall when I challenged Mr. Addallah Matin, an economic student of the University of Ghana and also tescon president trying to downplay Mr. Isaac Adongo of NDC on the issue of the foreign exchange rate which was misinformed by Dr. Mahamudu Bawumia, Vice president of the Republic of Ghana.

In the year, 2020 when the exchange rate was one United states dollar to Ghana cedis (Ghc) 5.40 now two years alone the line the cedis is ghc7.33 per US dollar as of 28/3/2022.

With this narrative, I humbly suggest to the government led by President Nana Addo Dankwa Akufo-Addo and his vice president of the Republic of Ghana

First of all the fundamental question of the foreign exchange rate is the price of domestic currency stated in terms of another currency Since it can standardize the currencies around the world float in value with supply and demand, consumer confidence values change relative to each other over time.

The Ghana cedis is now ghc 7.33 to one US dollar what that means is you need ghc 7.33 before you can trade with US dollar currency and as a Ghanaian, it's of great concern to me. Therefore in my humble pie, I suggest the following measures to been taking

Firstly, enforcement of the laws of black markets in the country.

Secondly, the BOG (bank of Ghana) enforces the use of Ghana currencies in the country by directing all governments agencies to accept only local currency.
And the private companies too.

Thirdly the government should cut down on foreign importation like rice, cassava, chicken, and so on.

Rather pump money into the agriculture sector by reducing interest to 10 - 19 percent.

Lastly, the government should try to control the price of some goods which are important to the country and need more dollars before you can trade with and the businessman have to buy the dollar in the system and which makes the dollar shots up. Also the use of the dollar, in other words, the demand for the dollar is high in the global therefore we should try to make our cedis strong.