The Director of Research at the Institute of Economic Affairs (IEA), Dr John Kwakye, has challenged economists to offer solutions to the woes of the local currency.
Dr Kwakye says he cannot understand why Ghana has a lot of economists, yet the Cedi is struggling.
In a series of posts on his X page, he said that as economists, they have a duty to rescue the vanishing cedi.
“The cedi is going for 16 cedis 40 peswas to one dollar at the Forex Bureau or the retail market. The local currency lost a marginal value to the US dollar, increasing its year-to-date loss to about 26 percent.”
Dr Kwakye questioned how much more cedi depreciation the country can tolerate, saying the cedi depreciation should be embarrassing to all economists.
He called for a national dialogue to save the cedi.
Source:gbcghanaonline.com