As part of efforts to stem the continuous depreciation of the cedi against the dollar and other major foreign currencies, the Ghana Chamber of Commerce and Industry (GCCI) is convening a meeting of top level management to present a blue print to government.
Efforts by the Bank of Ghana to stop the depreciation of the cedi through its revised forex rules have been largely criticized with some stakeholders asserting that it has failed to yield any positive results. Private sector businesses, including importers and manufacturers have been hit hard by the cedi’s continuous depreciation against major foreign currencies.
The cedi this year alone has depreciated by 27 percent.
According to the CEO of the Ghana chamber of commerce and industry Mark Badu-Aboagye, they expect their long term recommendations to feed into government’s 2015 budget.
By: Rabiu Alhassan/citifmonline.com/Ghana