President Akufo-Addo has urged persons talking down the local currency Cedi to stop.
He says talking down the Cedi is contributing to its woes.
Addressing the nation on the economy on Sunday October 30, Mr Akufo-Addo said “Fellow Ghanaians, as the French would say, l’argent n’aime pas le bruit, to wit, money does not like noise, ‘sika mpɛ dede’. Where there is chaos, where there is noise, where there is unrest, you will not find money.
“Money doesn’t like noise. If you talk down you currency, it will go down, if you allow others to talk down your currency it will go down.”
“All of us have a role to play in straightening the Cedi and stop speculation. Those who publish falsehood resulting in panic, the relevant state agencies will act against such person,” he added.
He further warned persons who are publishing false news about the currency.
He said the relevant state security agencies will come after such persons.
“All of us have a role to play in strengthening the Cedi, stop speculation. Those who publish falsehood resulting in panic, the relevant state agencies will act against such person.”
The Cedi has been struggling against the major trading currencies especially the Dollar.
But it is making some gains recently.
“We are determined to restore stability in the economy,” President Akufo-Addo said.