The Ghana Union of Traders (GUTA) has called off its planned shop closure scheduled for Monday, August 29, 2022.
This was after a meeting
with the Council of State.
GUTA said a joint
committee has been set up to look into its concerns.
President of the Association, Dr. Joseph Obeng, after the
meeting, said the “leadership of GUTA will meet the Council of State again
after a month.”
GUTA had earlier announced it would close all shops belonging to
its members in Accra on Monday, August 29, 2022, to register its displeasure
with the country’s current economic challenges.
According to GUTA the depreciation of the cedi has eroded the
capital of its members and is severely hampering their operations.
A dollar is currently trading at GH¢10, inflation is almost at
32% and the policy rate is now at 22%.
Ghana’s economic challenges forced government to seek a bailout
programme from the International Monetary Fund (IMF).
Source: Sammi Wiafe