President of Ghana, Akufo-Addo says his government will greatly depend on the input of the Association Ghana Industries (AGI) to bounce back the country’s declined economy.
He made statement at the opening of a closed door meeting with leadership of AGI and some government officials including under fire Finance Minister ken Ofori Atta, on Tuesday October 25.
According to President Akufo-Addo, the industry players will be updated on the ongoing International Monetary Fund (IMF) negotiations and views solicited on how the economy will be resuscitated.
The meeting formed part of efforts to stop hikes in prices of goods and services in Accra.
Information Minister Kojo Oppong Nkrumah unveiled the initiatives taken by the government to tackle the Cedi at a press conference on Monday October 24.
“The Bank of Ghana will be meeting the Managing Director of some of the Banks and the heads of the forex bureau association to hold discussions aimed at ensuring that the supply of forex on the market is stabilized and the overpricing is halted so that, those who need forex for business get it without hindrances at the banking halls as against rates on the black market or some other quarters,” he said.
Oppong Nkrumah added “We will also be looking at long-lasting measures to ensure that forex rate is stabilized in the country, even as we expect a lot more inflow of forex following the completion of the syndication of the COCOBOD transaction loan.
“The Economic Management Team (EMT) is also meeting to appraise itself on some of the recommendations as we get closer to the end of the year.
“On Thursday, Cabinet itself will be meeting to receive what has gone through the EMT and updates from the IMF negotiation so that some decisions will be made and then update the country on the next step forward.”
