It is too early to ask traders to reduce prices over strange cedi appreciation – Association

The Importers and Exporters Association of Ghana has said it is not within the mouth of the government to call for the reduction of prices following the appreciation of the cedi against the dollar.

Executive Secretary of the Association Samson Awingobit says the market should be allowed to determine whether to reduce prices or not.

According to him, it would be too early to make that call since some importers and traders had bought their goods at certain prices and paid duty on them before the cedi started appreciating.

Speaking on Nyankonton Mu Nsem on Rainbow Radio 87.5Fm, he said, "we cannot sit down and claim that all was well when all was not well. I strongly believe that in this current dispensation, we need to know that the dollar has started gaining ground again”.

He also claimed that there is no dollar in the system at the moment for those who need it.

For him, it was strange for the cedi to appreciate against the dollar in December since it is the period when businesses need more dollars to trade.

He has called on the government to come and explain to the people how this was possible.