The National President of the Ghana Union of Traders Association (GUTA), Dr. Joseph Obeng has expressed his displeasure in the government’s failure to abide by promises it made to cushion the business community from the effects of the current economic hardships.

The Government, as part of efforts to address concerns raised by the Association when its members closed their shops due to economic challenges, announced a pegging of the dollar rate with the interbank rate at the ports for traders over the next three months.

Speaking to Citi News, the GUTA President said it is disappointing and unacceptable and a gross breach of promise to increase rates at the ports despite promising an arrangement to cushion traders.

“We are not going to accept this. It is a lack of faith, that is why they were telling us that we should not divulge it to the public and I came out to divulge it because of some of these things. Because they have given the assurance that they are going to peg the dollar, and we are waiting for it and it is still not working or they want to increase it to GHs15 then they will say they have pegged it.”


“They can’t take the trading community for a ride. This is not fair, it is a lack of faith, and I am disappointed in authorities, that we have an agreement and then you confirmed with all the necessary stakeholders around and then you are not abiding by your own assurance, this is not fair and I don’t know what is holding this assurance.”

Members of GUTA closed their shops last week in protest of the falling and failing Cedi, but resolved to reopen after meeting the GA Mantse and the Government promising to peg the dollar rate with the interbank rate to cushion them.

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