The Food and Beverages Association of Ghana (FABAG), has urged for a national conversation regarding the alarming depreciation of the Ghanaian cedi.
FABAG criticized both current and previous administrations, as well as the Bank of Ghana (BoG), for their failure to implement robust policies capable of preventing further depreciation of the cedi against major trading currencies.
Addressing the rise in prices of goods and services attributed to the depreciation of the cedi, Executive Chairman John Awuni of FABAG stressed the urgency of reaching a national consensus on the issue during an interview held in Accra on Wednesday.
“The entire country, we need a national dialogue. We need a national consensus to see what we can really do concerning this issue of the dollar. Because it has always been an albatross on the neck of each government that comes in. I have gone through the various governments, the NPP, the NDC, the NPP, the NDC, and I haven’t seen any of them being able to handle the issue of the dollar,” he said.
He further explained that the central bank is not able to enforce the rules regarding the use of foreign currency in this country because “many of them are culprits. You go to the ports, the ports change their duties based on the dollar rate. That is very unfortunate.”
