Lack of confidence in economy cause of cedi woes – Kwame Pianim

Economist Kwame Pianim has attributed current challenges facing the Ghana cedi to fears that the current economic challenges may not stabilize very soon.

Checks at some commercial banks across the country show the local currency has depreciated by some 3.9 percent from the beginning of this year.

There are fears the current challenge could get out of hand if managers do not act quickly.

However, Mr. Pianim says managers can still move very fast to stabilize the situation .

“Developing an export sector, new export services, buying local production, making sure that the energy problem is fixed so that local manufacturers can manufacture for us to buy is critical,” the renowned Economist said.

He said there must be partnership between the Government and citizens towards effort to improve the economy.

“We cannot expect Ghana to be as it was yesterday or transform it without taking some transformational decisions and steps,” he said.