General News of 2014-02-10

Cedi fall: Let's think ahead to solve difficult problems - Nduom

Former Presidential Candidate of the Progressive People’s Party (PPP), Dr Papa Kwesi Nduom, has urged the Government to take concrete, rather than ad hoc measures in shoring up the cedi against the dollar.

He advised on his facebook page that: “As we discuss how we are going to transform our nation to become one of producers and not just consumers and make our currency strong, we should reject instant, feel-good solutions and think ahead, plan for all eventualities and solve difficult problems”.

Dr. Nduom advises the Government to take a leaf from Luke 14:28 in the Christian Bible as it pursues measures to strengthen the economy.

The verse reads: "For which of you, desiring to build a tower, does not first sit down and count the cost, whether he has enough to complete it?"

Cabinet is currently meeting at the Flagstaff House to brainstorm measures toward fixing the economy.

The Bank of Ghana recently injected US$20 million into critical sectors of the economy and also announced a list of forex control measures to shore up the cedi.