The Department of Data Science and Economic Policy at the University of Cape Coast is calling for a conscious effort on the part of government to make Ghanaians cherish and consume made in Ghana products.
According to them, the over reliance on foreign products at the expense of the Ghanaian products will still make the cedi struggle no matter the intervention.
Speaking at a round table discussion organized by the Department of Data Science and Economic Policy at the University of Cape Coast, a senior Lecturer at the Department, Dr. Mark Armah, indicated, the cedi can gain strength against the major international trading currencies if government embarks on education and give meaning to its flagship policies in Agric and industry.
Dr. Mark Amarh says the issue is not on only about value addition because the country has been adding value to our products but how to consciously get Ghanaians to consume locally made products.
“Let’s check our preferences and taste. We should choose something that is Ghanaian over what is foreign. That’s a perfect start to turning the fortunes of the cedi around. Let’s remember, the more we consume foreign products, the more vulnerable we make the Ghanaian cedi,” he averred.
Dr. Mark Amarh was confident if government stayed committed towards the implementation of homegrown policies and supported local industries to grow, the country’s economy will be better off.
A senior Lecturer at the Department, John Gatsi maintained the country’s exit of the IMF program should not make Ghanaians jump in ecstasy but should be a guiding principle to follow the laid down rules to become truly independent of their control.
The analysts commended government on its policies like the planting for food and jobs, one District, one Factory and a host of others that can contribute to a stabilized economy. They had one caution; that government should be able to implement the policies very well and sustain it to make the economy buoyant.
The Exchange rate and the Ghanaian economy: General Knowledge, causes, effects and the way forward was the theme economic and data analysts deliberated on at the roundtable. The Analysts said they hope to communicate their suggestions and proposals to government to help them fashion out policies to make the cedi strong among its peers.
