Economic recovery programmeEconomyEditors-PickFinanceGhanaHeadlineLeadershipNewsPoliticsPublic Service

Local production and increased exports surest way to strengthen cedi – Dr George Domfe

Dr Domfe said the fundamentals of the economy are still weak and until that is changed, the cedi will continue to struggle against the dollar

Dr George Domfe, a development economist at the University of Ghana, has said that until Ghana is able to produce enough for its citizens and increas her export portfolio, the cedis, the local currency, will continue to suffer.

Sharing his views at the  maiden edition of the ABC News’ Economic Symposium on Thursday, 13 June 2024, at the GNAT Hall, Accra, Dr Domfe held that the fundamentals of the economy are still weak and until that is changed, the cedi will continue to reel under the weight of the US dollar.

“We have not been producing enough for ourselves and for export, and we have been depending so much on foreign products, there is no way we can get out of this situation. We must produce more to balance the situation” he said.

He also indicated that there is the need for the country to take its industrial development very serious as that is the only way for the cedi to remain strong against the dollar.

He agreed with the statement that when the fundamentals are weak, the exchange rate will expose you. In his view, the country is not able to withstand the strength of the dollar because of our weak fundamentals.

The Economic Symposium is the first of a series of programs to be held by ABC News in the coming months.

The maiden edition assembled experts such as Professor Isaac Boadi, Dr George Domfe, Dr Frank Bannor, David Amoateng and Dr Charles Atuahene as speakers with Dr Edwin Obodai Provençal as chairman of the occasion.

Asaase Broadcasting Company airs on Asaase 99.5 Accra, Asaase 98.5 Kumasi, Asaase 99.7 Tamale, Asaase 100.3 Cape Coast, AsaasePa 107.3 (Accra).
Affiliates: Azay FM 89.1 (Takoradi), Bawku FM 101.5, Bead FM 99.9 (Bimbilla), Mining City Radio 89.5 (Tarkwa), Nyatefe Radio 94.5 (Dzodze), Somuaa FM 89.9 (Gushegu), Stone City 90.7 (Ho) and Wale FM 106.9 (Walewale).

Listen online:, Sound Garden and TuneIn.
Follow us:
Join the conversation. Accra: call 020 000 9951/054 888 8995, WhatsApp 020 000 0995. Kumasi: call 059 415 7985 or call/WhatsApp 020 631 5260. Tamale: call/WhatsApp/SMS 053 554 6468. Cape Coast: call/WhatsApp 059 388 2652.


Show More

Related Articles

Back to top button

Adblock Detected