Ghana Depreciating Cedi: The Special Task Force
The President of Ghana has given an order that anyone who trades currencies illegally using the dollar will be arrested right away. In response to the current difficulties the nation is experiencing on the economic front, President Nana Addo Dankor has issued these directives. He said that the current problem with the dollar would be solved if everyone involved in illegally selling dollars would be arrested.
The Cedi dollar crisis, which is aggravating the country’s inflation rate, is being addressed by the government, according to President Nana Addo, who added that the government is taking steps to address the crisis. According to the president, people who are selling the dollar on an illegal basis contributed in equal measure to the dollar shortfall that the country currently faces. A special task force has recently been established with the mission of tracking down all of the individuals responsible for carrying out such a destabilizing activity for the nation.
Further assertions suggest that such unregulated foreign exchange markets are in possession of dollars but choose to conceal them in order to artificially inflate their value. Because of this, it has been hard to keep the value of the dollar stable in comparison to the cedi, which is bad for the economy of the country.
However, once all of this illegal marketing in the foreign exchange sector is adequately addressed, the cedi will begin to strengthen dramatically against the dollar in a very short amount of time. People who are selling dollars illegally should listen to this warning and stop what they are doing right away, or they risk being prosecuted when they are found.
The task force will very soon begin their work, and they may be dispatched to all sections of the country in order to be able to eliminate this harmful behavior that is draining the economy. If you want to be good citizens, you should report such forex black marketers to the task force so that they can push the value of the dollar down permanently.
Every person in the country now has the responsibility of lending their support to the initiatives taken by the president to improve the country’s economic situation. After this has been taken care of, it won’t be long before the cedi begins to appreciate against the dollar.
