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Accra, March 19, GNA –
President Nana Addo Dankwa Akufo-Addo badured Tuesday that the government is
take steps to address the fragility of the Cedi, leading to greater dependency
on local goods and services, not on citizens' exports.
Already, the Cedi, he
said, had begun to show signs of recovery, and "I hope the decline
The trend will continue and it will go lower and lower for the recent
upset would be annihilated. "
The President gave the
insurance in the context of interaction with the leaders of the Ghana Bar Association
(GBA) at the Jubilee House in Accra, where the badociation raised concerns
about the fall of the Cedi relative to other commercial currencies and the
energy situation in the country.
He told the GBA that
the depreciation of the cedi was the result of excessive dependence on imports
by the Ghanaians, indicating that the issue was a major concern for his
government because "the difficulties that temporary dislocations in the
money touches us all and it is necessary for us to find
solutions.
"There are structures
problems that we have so far not articulated strongly in my opinion. We live in
country where we are too dependent on importing things for our
daily subsistence; things we can produce, we continue to import them and
At the same time, we do not generate enough exports.
"That's the problem on
the persistent deficit of current account national income statistics
that's what gives rise to the fragility of our currency … That's the problem that
we should all understand the origin of the real fragility of our currency,
the president said.
President Akufo-Addo
indicated that the Ministry of Commerce would soon be presenting a list showing the
import profile "so that we can all see the kind of things we use to
buy, "added:" I'm willing to bet that 70 percent of things on this list
are things that we can produce for ourselves in this country. "
"That's the
importance of this initiative A district, a factory. This is not fair
political gimmick. This is an attempt to address the issue of
autonomous. The whole of this Ghana mantra, beyond the aid, is now vast; is about
autonomy, to do for ourselves things on which we continue to depend
other people to do.
"When you buy things
from abroad, you create a job out of Ghana that you could create inside
that country, "he said, stressing that Ghanaians should" focus more on
competitive in our attitude about the things we produce.
"Last year, we produced
a lot of food [and] we were able to earn a lot of money by exporting
to our neighbors … this is the discussion to which we should participate as a nation
and focus on what we have to do as a nation to turn around
narrative, to turn around the fragility of the currency because the days of
fixed exchange rates; these days are over.
"Yes, the central
Banks can intervene in one way or another, but in the end, the
the market forces that determine the state of the currency. If you pbad the
If you do not always have money, you will end up with a problem, "
The president said.
He hoped that
the effects of the impact of government intervention on the issue would be
rounded felt in the shortest possible time.
On the current energy
President Akufo-Addo said that it was a temporary logistical problem.
recoil that has been addressed. "I think the worst part of what we have
recently seen is behind us … and we should receive a much more stable, even and
regular supply of electricity. "
The ACS also raised
questions about the need for law enforcement in the country, what the president
Akufo-Addo called for the support of all citizens to tackle the
growing culture of impunity.
He said however
Government was responsible for ensuring a State based on the law, the
society should be involved in the process of making the country a country of law and
order.
"I believe that
calling the executive to be aware of his responsibility is the good citizen
responsibility that you fulfill, "he told the GBA, adding," I am sensitive
and accept the challenge of making sure that our society is not the one that
tolerate impunity.
Touch on vexed
questions of vigilance, the President stressed that the phenomenon "is an integral and
part of the acts of impunity we face.
"We are negotiating with
in difficult circumstances … unemployment is still considerable, so its
relatively easy to co-opt young people into all kinds of dangerous
Activities. But we have to deal with it and I want to badure you that
whatever steps need to be taken to deal with the issue of face value
Impunity, I will do my best to deal with it.
"I'm calling for your
support and support of the citizens of our right thinking society to continue to
the effort that is made to eliminate the impunity of our system and maintain
and preserve the rule of law, "he said.
GNA
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