Ghana Needs Cedi Stability to Solve Economic Crisis – Alan Kyerematen

Former Minister for Trade and Industry and the leader of the Movement for Change, Alan Kyerematen, has said the solution to Ghana’s economic crises is the stabilisation of the cedi. According to him, stabilising the cedi would solve the problems with inflation which would have a ripple effect on the economy.

“When you are looking at economic revitalisation, the stability of your currency is very important because it has implications for inflation. In particular, it has implications for even the level of growth that you can achieve as a country and the multiply effect” he said.

Speaking on  Joy News’ Newsfile, Mr Kyerematen indicated that his transformational plan which he describes as “the Great Transformational Plan (GTP)” has the policy prescriptions necessary for Ghana’s development. He believes he has the track record and credibility to bring economic prosperity to Ghanaians.

On Friday, February 2, Mr. Kyerematen, organized the National Economic Summit to rally non-partisan expertise to dialogue on the GTP and how to improve as well as utilise the plan for economic transformation.

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Before forming the Movement for Change, Alan Kyerematen, was a member of the New Patriotic Party (NPP). He was Ghana’s Ambassador to the United States under the Kuffour administration and later the Minister for Trade and Industry in 2017 under the Nana Addo administration.

He resigned as the minister for Trade and Industry on the 5th of January 2023 to contest in the presidential primaries of the party.

Kyerematen attempted the leadership of the New Patriotic Party in 2007. He was the first runner-up to Nana Akufo-Addo. He again made attempts at the party’s leadership in 2010 and 2014 but placed second to Akufo-Addo, who won the primaries.

On the 25th of September, 2023, he declared his resignation from the New Patriotic Party citing unfair treatment from the party towards him and his supporters. Later, he made known his intention to run for the presidency as an independent candidate on the vehicle, the Movement for Change.