FABAG calls for national dialogue on depreciating cedi

The Food and Beverages Association of Ghana (FABAG) has called for a national dialogue on the free fall of the cedi.

FABAG chastised current and past governments and the Bank of Ghana (BoG) for the lack of resilient policies that could save the cedi from further depreciation against major trading currencies.

In an interview with Citi News on the back of an increase in prices of goods and services due to the cedi depreciation, in Accra on Wednesday, the Executive Chairman for FABAG, John Awuni emphasised the need for a national consensus on the matter.

“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.

“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,” he stated.

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