The Ghanaian-German Economic Association is hopeful Ghana’s exchange rate regime will experience some stability against other major foreign currencies.
This comes after the Executive Board of the International Monetary Fund finally approved Ghana’s programme request for a $3.0 billion bailout.
Speaking to Joy Business at a special business forum, President of the association, Stephen Antwi, called on the government to implement policies to reduce importation of goods to save the cedi.
Mr. Antwi maintained that local businesses should be protected.
“The excitement is predicated on the fact that we’ve had long periods of currency fluctuation and instability. We think that once this deal is approved, it is going to create a regime of stability that we use to have prior to Covid-19 and that is exciting for businesses”, he said.
The Ambassador of the Federal Republic of Germany, Daniel Krull, pledged his support to aid Ghana in expanding various productive sectors of the economy.
“We are having this event to deliberate on key issues affecting the business community. The embassy is working to support employment creation to support the economy at large”, he stated.
The Ghanaian-German Economic Association (GGEA) special Business Forum dubbed, “C.E.O’s time with the Ambassador and the Minister” was to bring CEOs from all sectors of Ghana’s economy to deliberate on issues affecting their respective sectors”.
This interactive forum brought together CEOs and captains of industry from both German and Ghanaian companies as well as other private sector entities.