Regulate activities of Black-Market operators – Economist

Professor Peter Quartey, Director of Institute of Statistical Social and Economic Research, (ISSER), University of Ghana, has called for the regulation of operators in the black market so that their activities are properly monitored.

Speaking on the ‘Eye on the Port’ programme he said: “Once you absorb them and register them, you are able to track their operations and their activities become formal.”

Touching on the different price quotations by agents at the ports, Prof Quartey said this development is creating anxieties and uncertainties among importers in the country.

Therefore, he encouraged policymakers to introduce a harmonized exchange rate especially for operators in the port and maritime industry at fixed time intervals in order to accommodate traders and alleviate the difficulties citizens face as a result the rapid depreciation of the cedi.

“At the ports, you’ll have to fix the rate for a month and review it over time. Because currently the agents quote different prices and that brings uncertainty and anxiety within the system.

“Government should set a rate that would require all institutions to apply. There should be benchmark ways of harmonizing this like we have in other countries,” Prof. Peter Quartey said.