Traders ready to demonstrate against government over cedi depreciation - GUTA President

He stressed that traders fear their businesses will collapse if the Cedi keeps depreciating.

Speaking in an interview on Joy News' The Probe programme on Sunday, August 8, 2022, Dr Joseph Obeng said, “the exacerbating tension that is coming from the trading committee is huge...they believe that if nothing is done about their businesses, their businesses are going to collapse in perpetuity so they are calling for a serious demonstration.”

Speaking in the same vein, GUTA in a press release copied to GhanaWeb stated categorically that their businesses are bleeding to death due to the high exchange rate.

The Association also added that the increase in the monetary policy rate has led to a high lending rate in the country.

“Businesses have reached a situation where their survival is seriously threatened...we are calling on the government, as a matter of urgency, to reconvene the Foreign Exchange Committee that was set up a few years ago by the Finance Ministry which involved all relevant stakeholders, to help find an immediate solution," part of the GUTA release read.

Read GUTA's press release below;



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