Worlase Kpeli, the Member of Parliament for Afraim Plains, has asserted that Ghanaians “cannot go a step back any longer” regarding the economic gains and stability achieved over the past few months.
He indicated that there’s a general sense of relief among Ghanaians from the challenges experienced in previous years.
However, MP Kpeli emphasized the need for authorities to ensure these positive trends are sustained.
“The prayer of every Ghanaian is that we do not go a step back any longer from the economic gains made over the past few months. Our prayer is that the positivity of what we are enjoying lasts for us, and it is the duty of all Ghanaians to do all we can to ensure the sustainability of what we are seeing,” he stated in an interview on Frontline on Rainbow Radio 87.5FM.
Commenting on the President’s directive to cease awarding government contracts in foreign currencies, the lawmaker stressed the importance of strict enforcement to strengthen the local cedi.
Minister for Finance, Dr. Cassiel Ato Forson, announced this significant policy change during the mid-year budget presentation. He stated that government contracts would no longer be awarded in foreign currencies, regardless of the funding source.
The Minister explained that this move aims to reverse dollarization in the economy and bolster the local currency.
“To curb this unfortunate development, His Excellency John Dramani Mahama has directed that from today, July 24, 2025, no contract awarded by the government, irrespective of the source of funding, should be denominated in foreign currency.”
Reacting to this, Mr. Kpeli remarked, “This directive has to be practical. It is a must. The dollarization of the economy is not healthy for the Cedi, and I strongly believe that we have a responsibility as a people to transact business in the local currency. It must be the duty of all of us, not just the government, to price in cedis to give value to the cedi.”
He recounted an experience in Geneva where visitors are strongly advised to exchange their currency for the local currency before conducting any business.
“I recall I was in Geneva, and can you imagine that the dollar we trade with here is not accepted there? You cannot buy anything in any supermarket with the dollar. You have to change it into their local currency. Most of the forex bureaus… They are in Europe, but if you purchase anything in a market in Switzerland, they will not accept it. Unless the person likes you, they might accept it. The same is the situation in France, so why can’t we do the same in Ghana?
The dollar has dollarised our minds, and we must do anything to stop it. It is a good initiative that if prices are reducing, then we must do business in the Cedi. We should even get to the point where we categorically make it a must for anyone coming to Ghana to do business to transact it in our local currency.”
By: Rainbowradioonline.com/Ghana
