Government has no magic wand to save cedi from free-fall - Economist

An economist has berated Ghanaian traders for putting pressure on the government to save the cedi from further depreciation. According to him, if the government had a magic wand to turn things around and save the cedi, it would have used it a long time ago. Mr Courage Buttah took issues with the traders agitating for the government to save the cedi from further fall. He said if the government had any magic to save the cedi it would have done so. The economist made these comments speaking on 505 evening news analysis programme on Class 91.3 FM on Wednesday, October 19, 2022, on the issue of the traders‘ strike in the Central Business Districts. He was of the view that the Ghana Union of Traders Association (GUTA) and all other associations are within their rights to adopt any means to drum home their concerns but “my concerns are what will these strikes do to the high-interest rate, rising inflation rate among others?” “I don’t think putting pressure on the government at this time of crisis is apt,” he added. Mr Courage Buttah also said if there is anything to do, it must be the traders appreciating that “we are a nation in crisis.” He called on Ghanaians to show some patriotism by helping the government navigate the crisis. “If you live in a nation where personal interests override national interests this is where you will get to,” he charged. “People talk down the cedi by doing all manner of speculations about it,” he also noted. “These same people who claim to be Ghanaians buy the dollar only to profit at the state's expense,” Mr Buttah accused