A Presidential Staffer at the office of the President, Alexander Martey, has said the dollar black market is an indentation on Ghana’s economic management skills.
While speaking with Kwaku Dawuro on Movement In The Morning Show, Mr. Martey indicated that although the New Patriotic Party (NPP) is noted to be better managers of the economy, the current economic data however, seems to be fighting against them.
His comment comes at the back of Ghana’s inflation rate climbing from 29.8% to 31.7% a month on.
Mr. Martey said, ”Ghana’s current economy is not a mismanagement by government, but as a result of the poor management of the exchange rate. We need to tackle the issues surrounding the exchange rate and we will do well in managing the dollar. What the Economic Management Team (EMT) should do is to have a maximum amount of dollar people can buy in a day- if they are able to do this, it will help reduce inflation”.
”If you go to China for instance, the maximum amount of dollar you are allowed to buy in a day is 500 dollars- you cannot go beyond that. The unfortunate thing is that people come to Ghana for dollar trade and they buy any amount they want, that shouldn’t happen in the first place”, he added.
He went on to say that if the EMT is able to put in proper dollar management system, the country will be able to handle the economic crises.
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