An economist, Dr. Nii Moi Thompson, suggests the government should halt public sector recruitment to halt the rapid depreciation of the cedi.
Speaking on Citi TV‘s The Point of View, he said the government must focus on cutting down on expenditure to save the currency, which has depreciated against the dollar and other major trading currencies.
Using the United States of America as an example, Dr. Thompson said, “this is what is done in other parts of the world. During the last financial crisis, there are cities in the US that actually sold their city halls to private businesses because they could no longer afford to do that and then they rented from them.”
Citinewsroom.com reports that he complained that the state was “putting so many people on government payroll who shouldn’t be there.”
Citing contemporary examples, he described the creation of 44 new districts and six new regions as “non-productive expeditions.”
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