Business activities have come to a standstill as the Ghana Union of Traders, GUTA close down shops indefinitely from today Wednesday October 19.
The move is to register their displeasure over the harsh economic conditions coupled with the continuous depreciation of the cedi against major trading currencies such as the dollar, high inflation and continuous increment of taxes.
Members of Guta have lamented the negative impact the situation has on their capital for businesses as well as the purchasing power of consumers.
GUTA mentioned strict monitoring of cross border trade, streamlining activities of the black-market people and reduction in the monetary policy rate as measures government can take to forestall problems facing the business community.
In a later interview on news and current affairs programme, “Behind The News”, Dr Joseph Obeng said GUTA will not back down on the closure of shops saying enough is enough.
Meanwhile, the Food and Beverages Association has also joined GUTA on this course. However, they will only do that from today to Friday.
The Importers and Exporters Association are also solidly behind GUTA’s action.
Meanwhile, Government says it has been fair to GUTA by giving them a good deal throughout their various engagements therefore the decision to close the shops comes as a surprise.
However, government says it will continue to engage GUTA to avert any closure of shops.