The Food and Beverages Association of Ghana (FABAG) has made a passionate call for a national dialogue on how to strengthen the Cedi.
FABAG lambasted current and previous administrations and the Bank of Ghana (BoG) for a lack of insightful and resilient policies to strengthen the Cedi.
In an interview with Citi News on May 15, the Executive Chairman for FABAG, John Awuni underscored the significance of a national consensus on the issue.
“The entire country, we need a national dialogue. We need a national consensus to see what we can really do concerning this issue of the dollar. Because it has always been an albatross on the neck of each government that comes in.”
According to John Awuni, successive governments have failed to define pragmatic policies to to the regular Cedi depreciation. He said it is beyond the blame of one particular administration.
“I have gone through the various governments, the NPP, the NDC, the NPP, the NDC, and I haven’t seen any of them being able to handle the issue of the dollar.”
John Awuni added that the Bank of Ghana has failed to enforce rules about using foreign currencies in the country. He said it is because most of the people tasked with ensuring things are working are culprits and flout the rules.
“The central bank is not able to enforce the rules regarding the use of foreign currency in this country because many of them are culprits. You go to the ports, the ports change their duties based on the dollar rate. That is very unfortunate,” he said
