The depreciation of the Ghana's currency, the cedi and rising inflation is causing panic.
To the extent that, most people prefer to operate US dollar account to avoid their capital being eaten up by inflation.
Afrifa Okaakyie has a proffered an advice to the Ghana government.
He admonished the government to negotiate with companies like Visa Card and Master card to allow Ghanaian account holders of US dollars to transact business using the credit cards at negotiable rates. In his view, this as a measure and policy will ease the cedi dollar pressure,and ease the depreciating local currency.The manner in which the business community rush for foreign currency, especially the US dollar is inimical to the Ghanaian economy.
Mr Afrifa asked the vice president who is the head of the government economic management team to take his advice, and allow the policy of transactions of business by the Ghanaian importers to use international credit cards, rather than carry foreign currencies traveling abroad for their trade.
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