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'No One Needs To Tell Me The Ravages Of The Cedi Depreciation' - Ofori-Atta

Ghanaian Minister of <a class=Finance Discusses 'Ghana Beyond Aid' — Pan African Capital Group"/>

Embattled Minister of Finance Ken Ofori-Atta says no one needs to tell him of the ravages of the cedi depreciation.

The government is under pressure to find solutions in order stagnate the depreciating Ghana Cedi and this the minister says the Bank of Ghana is on track and had intensified efforts to remit notions which to him stimulate the depreciation of the Ghana cedi including dealing with other factors which work against the local currency in the long term.

Mr Ofori-Atta, however, stressed the need for citizens to play their part to create a macroeconomic environment capable of meeting the essential needs of individual households and businesses. He said this at a meeting with an Association of Ghana Industries (AGI) in Accra, 

“As the Minister of Finance, no one needs to tell me the ravages of the cedi depreciation which has become an albatross on the neck of our local industries and the high cost of living for all citizens,” he said.

He also stressed on the fact that the global situation had led to the depreciation of other leading currencies such as the Pound, Euro and the Yen.

He said  “while the dollar keeps getting stronger, the exchange rates keep increasing with the resultant economic challenges”.

 

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Association of Ghana Industries Euro Finance Ken Ofori-Atta Ofori-Atta

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