Ghana’s Weak Local Currency Is A Result Of Large Importation — Mahama Promises To Revert The Trend When Voted Into Power

Former President John Dramani Mahama has given the assurance that the next National Democratic Congress (NDC) government would revamp all the defunct state and strategic key industries to spearhead its national industrialization drive.

To revamp such national assets that had supported lives for over 100 years, Mr Mahama said a $10 billion accelerated infrastructural plan, dubbed: the Big Push, will drive jobs and entrepreneurial agenda when elected in December 2020.

He said the economy of Ghana was largely import-led, thus, the country had become a large warehouse of imported consumer goods, hence, his Party would vigorously set up agro-processing zones to reverse the trend.

The over-reliance on imports of basic commodities that could have otherwise been produced here in Ghana is a reflection of the country’s weak local currency, the cedi. He added.

Source: GhanaFeed.com