Seasoned Journalist, Kwesi Pratt Jnr., has shared concerns with the Ghana Union of Traders Association (GUTA) about fears over the imminent collapse of local businesses due to the cedi depreciation and other related market forces.
GUTA has threatened to embark on a demonstration against the government over the free fall of the local currency against foreign currencies, chiefly the US Dollar.
The President of GUTA, Dr. Joseph Obeng, in an interview published by the Insight newspaper, stated. “the exacerbating tension that is coming from the trading Committee is huge . . . They believe that if nothing is done about their businesses, their businesses are going to collapse in perpetuity so they are calling for a serious demonstration”.
He feared local businesses will crash to the ground should the cedi keep depreciating.
Source: Ghanaweb