A Banking & Corporate Governance Consultant, Dr Richmond Atuahene, says if government doesn't change the structure of the economy from a foreign base to a local base, it will be difficult to stabilize the cedi and help the economy recover.
"The country is a foreign-related country that we import everything; a structurally imbalanced economy....but it must change from that otherwise the currency will continue to go down and go down. We need to own the economy…we need to change the structure of the economy," he said.
The consultant who was speaking to the current economic challenges facing the country in an interview on Peace FM's morning show 'Kokrokoo', said government needs to "tackle this challenge head-on and change the structure of the economy".
"Things we can grow in the country are all imported…we need to stop the politics and tackle it head-on. Until we change the structure of the economy nothing will change as far as the economy is concerned," he added.
Listen to him in the video below
Source: Rebecca Addo Tetteh/Peacefmonline.com
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THIS HAVE EASY SOLUTION SO LONG AS WE KEEP IMPORTING ***barred word*** INTO GHANA THE CEDI WILL CONTINUE TO DEPRECIATE. WHY ARE WE IMPORTING RICE INTO GHANA THAT GHANA HAVE FERTILE LAND TO PRODUCE RICE DOES IT MAKE SENSE. WHY WE IMPORT FLOUR WHILES BRASIL, EQYPT GROW WHEAT WHICH GHANA CAN DO SAME ARE WE SERIOUS AS A NATION WHO IS THIS AGRIC MINISTER IS HE SRIOUS AS A LEADER, STOP PEASANT FARMING AND DO COMMERCIAL FARMING ZIMBABWEA USE TO DO COMMERCIAL FARMING AND THEY WERE BREAD BASKET OF SOUTHERN AFRICA UNTI THEIR ***barred word*** LEADER MUGABE STARTED TAKING THE LAND FROM WHITE FARMERS TO THE BLACKS WHO COULDN'T FARM ANYWAY MEANWHILE THESE BLACKS WERE WORKING FOR THESE WHITE FARMERS AT THAT TIME. GOVERNMENT SHOULD PUT HEAVY TARRIFS ON PRODUCTS THAT CAN BE GROWN OR PRODUCE IN GHANA TO STOP THIS ***barred word*** ELSE WE ARE DOOM AS A NATION AND OUR CEDI STRENTH. AGAIN FOREIGNERS WHO DOMINATES OUR MARKETS CANNOT IMPORTS THINGS THAT CAN BE PRODUCE IN GHANA ONLY LAZY PEOPLE OR NATION DOES THAT.