Stabilize the Cedi and restore investor confidence – Movement for Change tells govt

To tackle the persistent depreciation of the Cedi, the Movement for Change has recommended to the government to tighten forex regulations.

This includes the temporary suspension of Forex Bureau operations to curb speculation.

The group stressed that there is a need for urgent action by the government to address the economic situation including the woes of the local currency.

At a press conference held at the headquarters of the Movement for Change, the Spokesperson of the Movement, Lawyer Andrew Appiah Danquah said “The free fall of the cedi is not accidental; it is a result of weak regulatory oversight. The government must intervene decisively to stabilize the currency and restore investor confidence.”

The group also identified high taxation as a major obstacle to economic growth and called for an immediate review of burdensome levies.

said “We recognize the President’s efforts to address the economic difficulties, but the reality is that Ghana’s economy is still in dire straits. We must move beyond diagnosis and implement concrete solutions.”

“The government cannot continue to tax its way out of economic mismanagement. The E-Levy, COVID-19 Levy, and Betting Tax must be scrapped to ease the pressure on businesses and households,” Lawyer Danquah added.