Election 2024: I can revive depreciating cedi – Alan

Alan Kyerematen, the Founder and Leader of the Movement for Change, has attributed the depreciation of the Ghana Cedi to systemic failures and a lack of faith in the economy.

He suggests that the Cedi’s value may continue to fall against major foreign currencies if Ghana does not increase exports and decrease imports.

During his Eastern Region tour on Monday, Mr. Kyerematen proposed several measures to restore the Cedi’s value.

He emphasised that regulating the activities of forex bureaus and boosting exports would help stabilise 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 Alan, ex-president Mahama and Dr Bawumia, if its production and exports that would revive the cedi, who amongst the three of us can do that? If we have made that mistake all these years and we now need someone who can do this then it is Alan who can do that,” he stated.

Mr Kyerematen also urged Ghanaians to shift their focus from unfulfilled manifesto promises to a national development plan. He stated that a government under the Movement for Change would prioritize significant constitutional reform.

“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,” he stated.