Alan Kyerematen, founder and leader of the Movement for Change, has said that, the Ghana Cedi’s depreciation is a consequence of deep-seated structural issues and a crisis of confidence in the economy. He believes that addressing these underlying problems is crucial to stabilizing the currency and reviving economic growth.
Alan Kyerematen warns that if Ghana fails to boost its exports and reduce its imports, the Cedi’s downward spiral against major foreign currencies will persist, leading to further devaluation and economic instability.
On Monday June 3, during his tour of the Eastern Region, Alan Kyerematen unveiled a comprehensive plan to revitalize the Cedi’s value. He highlighted the need for stringent regulations on foreign exchange bureaus and a significant boost in exports to stabilize the currency and stimulate economic growth.
“The cedi’s strength is directly tied to the balance of foreign exchange supply and demand. The harsh reality is that without boosting production and exports, we won’t generate the necessary dollars to stabilize our currency. It’s astonishing that this critical issue has been overlooked by leaders for so long, exposing a deep-seated systemic failure that needs to be addressed,” he said.
Alan Kyerematen is calling on Ghanaians to move beyond political parties’ unfulfilled campaign promises and instead unite behind a comprehensive national development plan. He pledged that a government led by the Movement for Change would prioritize sweeping constitutional reforms, marking a significant shift towards a more sustainable and prosperous future for the country.
“We aim to elevate Ghana beyond mere political promises and create a unified national blueprint that outlines a clear direction for the country’s future. Our vision is to establish a long-term plan that spans 30 to 50 years, ensuring continuity and progress regardless of which party is in power, so that every government can build upon the achievements of the previous one.”
