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Leadership of the Ghana Union of Traders’ Associations (GUTA) has directed its members and the business community to adjust prices of goods for the benefit of the consuming public.
GUTA’s appeal comes after a successful implementation of initiatives by the Akufo-Addo government and the Bank of Ghana which has aided the Ghana cedi stabilise against the US Dollar.
A statement signed by GUTA’s president, Dr. Joseph Obeng noted that the call for price adjustment of goods and services is to make the consuming public feel the impact of this positive trend in the cedi appreciation.
“As the value of the cedi begins to appreciate, GUTA wishes to appeal to the business community to adjust prices of goods and services accordingly, to make the consuming public feel the impact of this positive trend”, he said in a statement.
The Trade Association also commended the government and the Bank of Ghana for putting in measures to stabilise the Ghanaian cedi against major trading currencies.
The applause comes following a number of strategies put in place by the Akufo-Addo administration to check the free fall of the cedi against major trading currencies especially, the US Dollar.
The Cedi was labelled as the worst performing currency after depreciating and losing more than 50% of its value against the dollar. But following some initiatives the cedi after being compared to some 150 currencies across the globe, has emerged as the best performing currency against the dollar.
“The Ghana Union of Traders’ Association wishes to appreciate the efforts being made by the government and the Bank of Ghana to stabilise the cedi. We urge government to continue with more efforts to sustain the programme and bring relief to the business community”.
