- October 23, 2022
- Posted by: Stratford Team
- Category: Economy
An economist, Professor Godfred Bokpin, has called on the government to put in place the right measures to re-instill confidence in investors concerning the economy.
According to him, due to the fast depreciating cedi and the ailing economy, investors have started investing their money in the dollar, a move which is further weakening the cedi.
He noted that such investors although aware of the repercussions of their actions on the local currency, continue to do so out of rationality.
He said “investors are rational actors. When it comes to making money love for country is held constant. Nobody loves Ghana, people love their bottom line, we see GUTA people closing their shop and all of that.”
Prof. Bokpin explained that with the cedi becoming a less desirable store of value, most investors have directed their attention to the dollar.
This he says is as a result of the dollar gaining strength and “having a future”.
“So when people exit and there are…
