He noted that the government is doing all it can to halt the free fall of the Cedi, which has depreciated against the dollar from GHc 4.9 to over GHc 5 in the last two months.
Commissioning a factory at Kpone on Wednesday, President Akufo-Addo said: “I’m aware of the anxiety in business circles and the population about the recent depreciation of the Cedi. I am extremely upset and anxious about it too.”
“I want to assure that all efforts are being made to arrest the decline and restore the cedi to stability in order to improve the competitiveness of Ghanaian industry. Very soon, we will be seeing the results of our policy,” the Citi News report quoted the President as saying.
The President’s statement is coming at a time the Bank of Ghana has announced plans to regulate the activities of Forex bureau operators that have been partially blamed for the depreciation of the Cedi.