The Economic Freedom Fighters of Ghana (EFF-GH) following the release and press statement in a conference held in Accra on Friday,29th November,2019 by the governor of the Bank of Ghana Dr. The EFF-GH through critical dialogue with the masses have concluded that we the EFF-GH and the people of Ghana doesn’t see the realistic and feasibility of the rationale behind the printing of new and high denomination as explained by the governor of BoG as the key to solving inflation and currency (cedi) depreciation.
We demand the clandestine explanations and the idea behind this misleading economic principle and implementation which is set to undermine the economy and the business activities of Ghanaians. How can higher denomination beat inflation and depreciation? Probably exchange rate as to say; the dollar depreciating the cedi, but the question still stands how can high denomination control inflation and depreciation? The strength of the economy and the strength of exchange rate(cedi-dollar) will be intense if government manage our natural and human resources well.
There is No magic anywhere to sustain that, in addition, government will have to control inflation and depreciation through the huge number and the rising wages of his own appointees ,reducing import and checking the prices of import and declining productivity and focusing on industrialization ,these are the only and surest way we can control inflation and depreciation as a nation.