Struggling cedi, can be addressed by emulating Trump's protectionist policies - Rev.Azaglo

 Rev. Azaglo Michael fiakofi, a prominent figure in Ghana's media and entertainment industry, has called on Ghana President John Dramani Mahama to take a cue from New elect US President Donald Trump's economic policies.

 Fiakofi, who serves as the Managing Director of Nation 1 TV and founder of Groom Young Africa Network (GYAN), believes that Ghana's economic woes, particularly the struggling cedi, can be addressed by emulating Trump's protectionist policies.

Rev. Azaglo Michael fiakofi

Fiakofi's comments come at a time when Ghana's economy is facing significant challenges. The cedi has depreciated sharply against the US dollar, with a decline of over 55% between January and October 2022 ¹. This has led to increased costs for importers, higher prices for consumers, and a decline in investor confidence.

Fiakofi argues that by implementing policies that prioritize domestic production and reduce reliance on imports, Ghana can strengthen its currency and economy. He suggests that Mahama, who has expressed interest in resetting Ghana economy should consider adopting policies similar to Trump's "America First" approach.

However, it's worth noting that Ghana's economic challenges are complex and multifaceted. While protectionist policies may provide short-term benefits, they can also lead to trade wars, reduced economic growth, and higher prices for consumers. A more nuanced approach that balances domestic production with international trade and investment may be necessary to address Ghana's economic challenges.

As the debate over Ghana's economic future continues, Fiakofi's comments are likely to generate significant discussion and attention. With Ghana's currency and economy facing significant headwinds, finding effective solutions will require careful consideration of a range of policy options.