President of the Automobile Dealers Union of Ghana, Eric Boateng has urged the President and Vice-President of Ghana to reduce the recent increase in the Cedi exchange rate from 16 GHS per dollar to 10 GHS per dollar.
He noted that before Ghana sought assistance from the IMF, the cedi exchange rate was lower than it is now.
“What I am saying is when Ghana had not gone to IMF and they said when E-levy comes, the cedi will be stabilized where did it extend to? When we went to IMF what was the amount for the first batch of the dollar, it was around 12 or 11 cedis. They want us to wait again for the last batch of dollars to be released into the system to weaken the cedi”, he said.
Consequently, he has called for a review to investigate the reasons behind the recent hike in the cedi.
In an interview on Okay FM, Mr. Eric Boateng stated that the Abossey Okai Spare Parts Association and the Ghana Automobile Dealers Union are giving the government a two-week ultimatum to ensure a reduction in the dollar exchange rate in Ghana.
“What we are saying is, we are giving the government a two-week ultimatum, Ghanaian traders are serious, Abossey Okai Spare Parts Association is serious, Automobile Dealers Union of Ghana is serious, if the government doesn’t move the cedi to the dollar exchange rate from 16GHS to 10GHS, the world will hear of us”, he noted.
He further revealed that three key institutions play a crucial role in the development of a nation: the President, the governance (ministries), and traders.
He emphasized that this collaboration boosts the economy and ensures peace in every nation.
“Three groups contribute to the success of a nation, 1 is the President, 2 is governance which is ministries and traders. This will help boost the economy and ensure peace in the nation. This is what ensured the smooth running of Former President John Agyekum Kuffour”, he revealed.
He also lamented the hardships faced by traders in Ghana and urged the government to come to their aid.
“We plead to President Akufo-Addo, we are dying, traders are dying, our markets are dying and we know that the main solution to this is for the cedi-dollar rate to move from 16GHS per dollar to 10GHS per dollar”, he bemoaned.
Furthermore, Boateng condemned alleged collaborations between certain government officials and specific traders, attributing the spike in the dollar to unethical and greedy practices.
Boateng stressed that this revelation underscores the urgent need for governmental intervention to ease the hardships traders face in Ghana.
“You are a leader, the nation is in your hands, and by God’s grace, you have vibrant and knowledgeable traders who are professors in business management. Some government officials have collaborated with banks who have also collaborated with Goro boys which makes the attainment of even 1000 dollars very difficult at various banks. Where is the dollar? It is right here in the country with evil and greedy officials”, he said.
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Source: Comfort Sweety Hayford/ATLFMNEWS
