Alan Kyerematen, an Independent Presidential Aspirant, has attributed the depreciation of the Cedi to systemic failure and a lack of confidence in the economy, but he asserts that he can rectify the situation.
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During his Eastern Regional tour on Monday, June 3 2024, the former Minister for Trade and Industry highlighted the importance of increasing exports and reducing imports to prevent further devaluation of the national currency.
Kyerematen emphasized the significance of export growth and stringent regulations for forex bureaus as vital measures to stabilize the Cedi.
He stated, “The strength of the Cedi is dependent on the demand and supply of foreign exchange. There is no other way unless you produce and export. Because if you don’t produce and use that to export abroad, you won’t get dollars into the system… but have you heard a head of state talk about this before? So, it is a systemic failure for a long time.”
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Asserting his capability to address the issue effectively, Kyerematen compared his approach to that of other political figures, stating, “So, between Alan, ex-president Mahama, and Dr. Bawumia, if it’s production and exports that would revive the Cedi, who amongst the three of us can do that? If we have made that mistake all these years and we now need someone who can do this, then it is Alan who can do that.”
Furthermore, Kyerematen urged Ghanaians to prioritize national development strategies over unfulfilled campaign promises. He emphasized the need for significant constitutional reform and advocated for a government led by the Movement for Change to prioritize such reforms.
He expressed, “Ghanaians are tired; they want a plan, not promises… So, we want to move Ghana beyond the manifest promises; we want a national plan where Ghanaians are informed about where the country is headed. For the next 30 to 50 years, every party that assumes office would continue with whatever they meet.”
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