GUTA ceases its strike as a result of the government's "goodwill"

A fixed exchange rate would be maintained at the ports for the following three months to protect traders who import goods, according to Deputy Trade and Industry Minister Michael Okyere Baafi, among other interventions and concessions the government has made to GUTA.

The government will stop the ongoing invigilation by the Ghana Revenue Authority, which has sparked protests and forced the closure of companies, particularly in Adum, Kumasi, according to the deputy minister..

The worst-performing currency, the cedi, has had a 50%+ decline against the dollar in 2022.

However, emphasizing the administration's good intentions, the union said that the government intended to form a working group composed of the Ministry of Trade and Industry, National Security, and GUTA in order to "swiftly come out with pragmatic solutions to overcome the difficulties."

It also said it had been assured that its recommendations “would be factored in the ongoing IMF discussions.”

The government hopes to receive $3 billion under an IMF extended credit facility programme to support the economy and open the doors to more borrowing on the international market.