Chartered economist Emmanuel Amoah Darkwah says it would be unwise for us to underestimate the number of money persons in the black market of the forex trade wields.
The economist argued that some licensed forex traders engage in illegal activities in the forex markets.
The approach to dealing with the problem, he noted, must be holistic and effective.
Speaking on Frontline on Rainbow Radio 87.5Fm, Mr. Amoah Darkwah said although he did not have concrete evidence, he could state that the amount of money they wield is a lot of money they wiled in the system in terms of FX”.
On the issue of repatriation laws, he stated that we should be able to signal to our investor community that our cedi is depreciating due to a lack of capital control. They were able to do so in Nigeria. When you want to do that, there will be a lot of skepticism and pushback from investors, but we want stability, so we have to deal with the issue”.
He said that there is always a spiral effect in the repatriation of profits from investors to their home countries and that we should implement measures to reduce the spiral effects.
He stated that this could be accomplished by changing our investment laws and that the government must communicate this information as soon as possible.
By: Rainbowradioonline.com/Ghana
