
Audio By Carbonatix
The Executive Chairman of Finatrade Group of Companies, Nabil Moukarzel, is asking the Bank of Ghana to institute more pre-emptive measures to halt the perennial free fall of the cedi.Nabil Moukarzel says this is crucial as the fluctuation sends wrong signals to investors and does not encourage convenient trading especially for importers.Speaking to Joy Business at a soiree with clients of the companies, Mr. Moukarzel called for immediate steps to address what he described as an alarming situation for businesses, explaining that the devaluation towards the end of 2011 has continued in January of 2012.“There was about 11 percent depreciation of the cedi which is not a very good message to send to businesses. We hope that government will intervene, the Bank of Ghana will intervene, will stabilize the currency and definitely sending a very strong signal to businesses and investors that this election year everything will be normal and stable.”
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Nurse laureate launches Cancer Care Africa Foundation to tackle late diagnosis, workforce gaps
1 hour -
Ghana to lose GH¢18.15bn in revenue by 2027 from abolishing Covid levy, E-levy – CPS study
1 hour -
Reintroduce scrapped taxes to close revenue gap – Tax expert
2 hours -
GRA applauds CPS study, urges continuous policy scrutiny
2 hours -
Wear blue or green hat to survive – IBAG president says insurance industry ‘captured by politics’
2 hours -
AGI commends government’s move to resolve the power crisis in Volta and Oti Regions
2 hours -
Broker sector worse hit by state interference – IBAG president reveals
2 hours -
IBAG president alleges political interference driving kickbacks in insurance sector
3 hours -
Trump agrees to two-week ceasefire, Iran says safe passage through Hormuz possible
3 hours -
Dozens killed as Angola flood death toll rises
3 hours -
Russia confirms deaths of 16 Cameroonians fighting in Ukraine war, Yaounde says
3 hours -
Plan to scrap presidential elections puts Zimbabweans at loggerheads
4 hours -
Guinea-Bissau transporters strike over higher fuel prices
4 hours -
Iran ceasefire deal a partial win for Trump – but at a high cost
4 hours -
Oil slides below $100 after Trump announces two-week ceasefire
4 hours