The Government's Stabilization Of The Cedi Is Artificial � Alan

Alan Kyerematen has said that the government's �home-grown� policy which has in recent times resulted in the stabilization of the Ghana cedi is not sustainable. He predicted that the cedi will soon start depreciating against the major currencies again. He said, �The government has gone to borrow $1.5billion with our cocoa produce and also raised $1billion through a Eurobond in order to shore up the cedi, however, what they forget is that, these monies have to be repaid with interest. The inflow of the $2.5billion into the economy will only create an artificial stabilization of our currency, and the cedi will soon have to chase the dollar once again because we will have to pay back the loan facilities with interest�. Mr Kyerematen made these assertions during a meeting with delegates at Techiman in his bid to lead the New Patriotic Party (NPP) as its presidential candidate in the 2016 general elections. He added, �The only way to save the Ghana cedi is through export. Government must as a deliberate matter of policy, invest in the production of additional cash crops aside cocoa and also add value to these raw materials for export in order to generate foreign income into the country� �We must also identify key businessmen and industry players and adequately support them to boost their capacities to export their produce in larger scales� �As Minister for Trade, Industry and PSI, we were able to identify and implement some of these policies. If the current government had continued with some of our initiatives, we would have become one of the major exporters of cassava and palm oil, aside cocoa, which would have generated a lot of foreign currency for the country�, he stressed. Mr. Alan Kyerematen asked the delegates to vote for him to lead the party and country because he has the capacity, skills and experience to do the job as President of Ghana in order to restore the economy and alleviate the sufferings of Ghanaians.