Leadership of the Ghana Union of Traders’ Associations (GUTA) has commended government and the Bank of Ghana for putting in measures to stabilise the Ghanaian cedi.
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 GUTA President, Dr. Joseph Obeng, in a statement said lauded the efforts of government in achieving this feat.
“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”.
Dr. Obeng in the statement also appealed to the business community to adjust accordingly prices of goods, in order for consumers to experience the positive trend.
“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.”
