AGI Not Happy With BoG Measures To Arrest The Cedi

The CediThe Association of Ghana Industries (AGI), has raised serious concerns about some of the measures outlined by the Bank of Ghana to arrest the decline of the cedi.

It said though the association appreciates efforts by government to salvage the situation, the cedi depreciation is a matter of national interest and believed a broader consultation among key stakeholders is crucial in order to figure out a workable and permanent solution.

In a statement signed by its president Dr. Adu-Gyamfi and copied to the Times in Accra yesterday, the AGI said the measures being adopted by the government will continue to trigger public discourse and resentment by the business community over the access to forex and its usage.

It said the industry, importers and the general public were all anxious to see a quick recovery of the cedi.

To this end, the statement said the AGI is engaging the government and key institutions to explore a workable and acceptable solution to all regarding the cedi depreciation.

AGI assured its members of the Association’s commitment to this process and said it will inform them of its position after the discussions.

The AGI is a voluntary business association of over 1200 members, including small, medium and large scale manufacturing and services industries in agro-processing (food and beverages), agri-business and pharmaceuticals.

The rest are electronics and electrical, telecommunications, information technology, utilities, service industries, transport, construction, textiles, garments and leather, banking and advertising.

As the leading voice of manufacturing industries in the country, AGI is dedicated, in particular, to advocating policies that advance the growth and development of industries.

It does this through analysis and monitoring of policy impact on businesses in order to, among others, challenge policies which are considered inimical to industrial growth and development, and presenting industry’s position papers on specific policies to government and stakeholders.

 

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