Ghanaian Cedi Gains Strength: Expert's Plan for Economic Stability

Ghanaian Cedi Strengthens Against the Dollar: Expert Offers Insights The Ghanaian cedi has shown signs of appreciation against the US dollar, prompting analysis from financial experts. In a recent news segment, Dr. Domfeh, an economist, outlined key strategies for maintaining this positive trend. He emphasized the importance of boosting domestic production to curb reliance on imports. "If we begin to produce more," he stated, "we can push it to the global market to rake in more inflows of foreign currencies." Dr. Domfeh also stressed the need for export enhancement, stating that it is crucial for attracting foreign exchange. He further highlighted the importance of job creation and effective revenue mobilization as vital components of a stable economy. The expert's comments underscore the interconnectedness of these factors in ensuring the long-term strength of the cedi. The government's efforts to increase revenue mobilization are also seen as critical for reducing dependence on foreign aid and loans. This multifaceted approach, combining production, export, job creation, and revenue generation, offers a comprehensive strategy for sustained economic growth and currency stability in Ghana.