No One Needs To Tell Me The Ravages Of Cedi Depreciation On Ghanaians – Ofori-Atta

The Finance Minister, Ken Ofori-Atta, has admitted that the free fall of the cedi has become an albatross on the neck of our local industries. He noted that although the cedi’s depreciation has also made life unbearable for Ghanaians, he is confident the rate of depreciation will slow down to bring relief to businesses. As a Minister of

Finance, no one needs to tell me the ravages of the cedi depreciation which has become an albatross on the neck of our local industries and the high cost of living for all citizens. Mr Ofori-Atta was speaking at an Association of Ghana Industries (AGI) forum in Accra, where he hinted that the government and the Bank of Ghana are

adopting measures to stabilise the cedi by the end of the year. One of the issues to be tackled is speculation, something he described as one of the major causes of the depreciation of the cedi in recent times. The Finance Minister, during the interaction with members of AGI, replied to his critics who have called for his head, saying

he has felt the ‘pains and aches’ but is more concerned about how the country surmounts its challenges. You have a Finance Minister who has gone through all the pains and aches, and nobody can really come and say ‘we don’t understand what we’re doing’,” he stated. He wants Ghanaians to discuss how the country’s resources can be utilised effectively to ensure growth and development, instead of the heightened calls for his resignation.