“Cedi Stability Key to Economic Growth – GUTA President”
"Cedi Stability Key to Economic Growth - GUTA President"
“Cedi Stability Key to Economic Growth – GUTA President”
The President of the Ghana Union of Traders Association (GUTA), Dr. Joseph Obeng, has emphasized the importance of a stable Ghanaian cedi for business predictability and economic growth. Speaking in an interview, Dr. Obeng noted that consistent and moderate currency fluctuations are essential for effective business planning.
A stable cedi would help bring down inflation and interest rates, creating a favorable business environment. Dr. Obeng stressed that extreme volatility in the currency undermines confidence in the market and makes it difficult for businesses to operate effectively.
Dr. Obeng emphasized the need for moderate and normal differences in exchange rates, rather than extreme fluctuations.
A stable cedi would enable businesses to predict and forecast more effectively, allowing them to make informed decisions and plan for the future.
The call for cedi stability comes after a 60-day grace period was granted to businesses to adjust market prices following the cedi’s steady gains. There is mounting pressure for long-term measures to sustain the currency’s appreciation and boost investor confidence.
Dr. Obeng’s comments highlight the need for sustained efforts to maintain the cedi’s stability and prevent future volatility.
A stable cedi would help boost investor confidence, which is essential for economic growth and development.
