President Nana Addo Dankwa Akufo-Addo has admonished anyone who spread misleading information regarding the local currency.
He stated that such individuals will be pursued by the relevant state security authorities.
On Sunday, October 30, Mr. Akufo-Addo warned against talking down the Cedi in his economic address to the country.
He also cautioned against speculation that causes fear in the system.
He said “Fellow Ghanaians, as the French would say, l’argent n’aime pas le bruit, to wit, money does not like noise, ‘sika mpɛ dede’. Where there is chaos, where there is noise, where there is unrest, you will not find money.
“Money doesn’t like noise. If you talk down you currency, it will go down, if you allow others to talk down your currency it will go down.”
“All of us have a role to play in straightening the Cedi and stop speculation. Those who publish falsehood resulting in panic, the relevant state agencies will act against such person,” he added.
The Cedi has been struggling against the major trading currencies especially the Dollar.
But it is making some gains recently.
“We are determined to restore stability in the economy,” President Akufo-Addo said.