The President of the Republic of Ghana, H.E. John Dramani Mahama, revealed that he had discussed the cedi’s current performance with the governor of the Bank of Ghana and the finance minister.
He claims that economic managers believe the currency’s “real value” should be between GH₵10 and GH₵12 in relation to the US dollar.
The Federation of Ghanaian Exporters (FAGE) paid Prez Mahama a courtesy call during which they discussed foreign exchange stability and export growth.
In order to preserve Ghanaian exporters and prevent home sectors from becoming unduly reliant on imports, the president emphasized the importance of having a strategic economic vision.
Mr. Davies Korboe, the FAGE president, praised the government for the cedi’s recent increases versus major trade currencies. He was hopeful that continued cooperation amongst interested parties and increased exports would support long-term macroeconomic expansion and strengthen currency stability.
Along with calling for a renewed national commitment to industrialization and value addition, the summit also emphasized the need for more investment in the export sector.
