[ad_1]
Company News of Thursday, February 14, 2019
Source: Myjoyonline.com
2019-02-14
Ken Thompson believes that increased exports will save the cedi from its brutal downfall
The chief executive of Dalex Finance has exonerated the Bank of Ghana from the recent depreciation of the cedi.
Ken Thompson said the central bank was not producing dollars and could only work with available resources; giving an badogy that "the BoG can not make soup with the meat that they have."
At Joy FM's Super Morning Show on Thursday, he told Daniel Dadzie that more than 75 percent of containers entering Ghana were empty.
"The cedi can not stabilize when you continue to export air," said the finance expert.
Mr. Thompson believes that the media should direct their arsenals to the Minister of Agriculture, the Minister of Trade and Industries and the Ghana Export Promotion Authority.
"Bring them in front of you and ask them what they do to fill these containers. [when they are leaving Ghana’s ports], He suggested.
He insisted that the percentage of exports should be the key performance indicator (KPI) of each government.
"… because it's [exporting air] destroys the value of the cedi and that makes no sense. It's a crime, "he lamented.
"You can not have a stable currency if you import everything. The only way to solve the problem is to export it, "he added.
"If we solve this problem, we will stop it," he said.
Addressing the traders, Thompson said that instead of focusing solely on their imports, they should also invest in exports. "Look for something to export, even if it's a stick to chew," he said.
He added that to reduce their losses, traders should repay their debts in dollars or as soon as possible.
Source link
