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Let's be honest on how to tackle perennial cedi depreciation - Graphic MD

BY: Maxwell Adombilla Akalaare
Managing Director of the Graphic Communications Group Limited, Mr Ato Afful
Managing Director of the Graphic Communications Group Limited, Mr Ato Afful

The Managing Director of the Graphic Communications Group Limited, Mr Ato Afful, has called for an honest discussion on how to find sustainable solutions to the perennial depreciation of the cedi.

Opening the Graphic Business/Stanbic Bank Breakfast Meeting Tuesday morning, Mr Afful said an honest discussion was needed to ensure that the right solutions were adopted to tackle the challenges that the local currency suffered.

He said as a company that specialises in publishing credible information on the economy and the country at large, the Graphic Communications Group was concerned about the health of the currency hence the decision to dedicate this quarter's edition of the breakfast meeting series to exploring sustainable solutions to the cedi depreciation.

This edition, which is the first this year, is under the theme, 'Achieving Sustainable Exchange Rate Stability: Our Options.'

Like Mr Afful, the Managing Director of Stanbic Bank Ghana Limited, Mr Alhassan Andani, also called for a dispassionate discussion on the subject.

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He said the depreciation of the currency was an outcome of the choices that the citizens made.

With imports increasing on daily bases, Mr Andani said more foreign currencies would be needed to finance those imports, thereby resulting in intense pressure on the lock currency.

Read also: Don't talk down the cedi - Stanbic Bank boss appeals