President Nana Addo Dankwa Akufo-Addo has warmed those who are criticising the local currency, the Cedi.
He claims that talking down the Cedi is contributing to its problems.
On Sunday, October 30, Mr. Akufo-Addo addressed the nation on the economy, saying, “Fellow Ghanaians, as the French would say, l’argent n’aime pas le bruit, to wit, money does not like noise,’sika mp dede’.” You will not find money where there is chaos, noise, and unrest.
“Money despises noise.” If you speak negatively about your currency, it will fall; if you allow others to speak negatively about your currency, it will fall.”
“We all have a role to play in straightening out the Cedi and putting an end to speculation.” “Those who publish falsehoods that cause panic will be prosecuted by the appropriate state agencies,” he added.
He also warned those who spread false information about the currency.
He stated that such individuals will be pursued by the relevant state security agencies.
“Stop speculating, we all have a role to play in strengthening the Cedi.” Those who publish falsehoods that cause panic will be prosecuted by the appropriate state agencies.”
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The Cedi has been under pressure against the major trading currencies, particularly the US dollar.
However, it has recently made some progress.
“We are determined to restore economic stability,” President Akufo-Addo stated.
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