Director of Research at the Institute of Economic Affairs Dr. John Kwabena Kwakye has urged the government to address the country’s exchange rate issues by boosting its export activities.
This statement was made in response to a discussion about the nation’s capacity to secure the second installment of the loan from the International Monetary Fund.
He said: “The solution is to increase export earnings and maximise the benefits from natural resources.”
Previously, Professor Peter Quartey, the Director of the Institute of Statistical, Social, and Economic Research (ISSER), conveyed optimism about the nation’s capability to reach an agreement with bilateral creditors by February.
He asserted that such an arrangement would contribute to the stabilisation of the exchange rate.
“For us to get the second tranche [funds], it is dependent on us getting into an agreement with external creditors.
“If that happens, then certainly we are likely to see some stability in the exchange rate market and that drives inflation and a lot of activities on the business front. So, if the exchange rate is relatively stable, we are likely to see some gains,” he was quoted by myjoyonline.com.
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