Increase export earnings to stabilize exchange rate - Dr Kwakye

The Director of Research at the Institute of Economic Affairs has asked the government to increase its exports to solve the country's exchange rate problems.

He said this in reaction to a comment on the country's ability to receive the second tranche of the loan from the International Monetary Fund.

He said: “The solution is to increase export earnings and maximize the benefits from natural resources.”

Earlier, the Director of the Institute of Statistical, Social, and Economic Research (ISSER), Professor Peter Quartey, expressed confidence in the country’s ability to secure a deal with bilateral creditors by February.

According to him, this will help the exchange rate stabilize.

“For us to get the second tranche [funds], it is dependent on us getting into an agreement with external creditors.

"If that happens, then certainly we are likely to see some stability in the exchange rate market and that drives inflation and a lot of activities on the business front. So, if the exchange rate is relatively stable, we are likely to see some gains,” he was quoted by myjoyonline.com.

SSD

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