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The founder and head of the Movement for Change, Alan Kyerematen, has attributed the devaluation of the Ghana Cedi to structural flaws and a lack of faith in the economy.
He warns that the value of the Cedi could continue to fall in comparison to other major currencies if Ghana does not increase exports and decrease imports.
During his tour of the Eastern Region on Monday, Mr. Kyerematen proposed several recommendations aimed at increasing the value of the Cedi.
He underlined that promoting exports and managing the activities of currency bureaus will help stabilize the Cedi.
“The strength of the cedi is dependent on the demand and supply of foreign exchange. There is no other way unless you produce and export. Because if you don’t produce and use that to export abroad you won’t get dollars into the system…but have you heard a head of state talk about this before? So it is a systemic failure for a long time.”
“So between Dr. Bawumia, Alan, and former President Mahama, who among the three of us can do it if it’s manufacturing and exports that will revive the cedi? Alan is capable of doing that, he said, if after all these years we made that error and we now need someone to do this.
Additionally, Mr. Kyerematen pleaded with Ghanaians to turn their attention from unmet manifesto pledges to a national development plan. He declared that major constitutional reform will be the top priority for a government led by the Movement for Change.
“When you listen to the majority, they say when NDC and NPP are in government, it is a winner-takes-all situation. If one party assumes office for eight years and you are not part of the party, then you are not part of the government. So the intelligence of many Ghanaians is disregarded in the governance of the country because it is winner-takes all.
“If these two parties are in government, they work on projects either good or bad even if the other had already started same…If there is no continuity, how do we move forward…Ghanaians are tired, they want a plan not promises.”
“So we want to move Ghana beyond the manifest promises, we want a national plan where Ghanaians are in the know of where the country is headed. For the next 30 to 50 years, every party that assumes office would continue with whatever they meet,” Mr Kyerematen said.
Source: Ghanatodayonline.com
