Independent Candidate Alan Kyerematen has confidently pledged to stabilize the economy and lower the exchange rate to single digits if elected President.
During his mega victory walk in the Greater Accra Region on November 2, Mr Kyerematen expressed concern over the cedi’s woes.
He reaffirmed his commitment to transforming the economy to tackle inflation and exchange rate issues.
“The exchange rate is currently almost 1 dollar to 17 cedis, and that is unacceptable,” he stated, pledging to overhaul the economy and bring the rate to a level that would restore confidence and purchasing power for Ghanaians.
Currently, the cedi is trading at nearly GH¢ 17 to one dollar, reflecting a significant year-to-date depreciation of 24.3%.
Meanwhile, the Bank of Ghana (BoG) says it is taking proactive measures to bolster its reserves to address the depreciation of the cedi against major foreign currencies.
With the festive season approaching, the central bank anticipates a surge in demand for foreign exchange, prompting this strategic move aimed at stabilising the local currency.
In his speech following the walk, Alan outlined four key issues facing the nation: unemployment, corruption, illegal mining, and a struggling economy.
He assured the crowd that his Great Transformational Plan (GTP) contains comprehensive solutions to these challenges, positioning it as the most detailed and practical blueprint for addressing their root causes.