General News

GUTA postpones intention to close shops due to financial difficulty

After speaking with the Council of State, this happened.

A joint committee has been formed, according to GUTA, to look into its complaints.

After the meeting, the Association’s President, Dr. Joseph Obeng, stated that the “GUTA leadership will meet the Council of State again after a month.”

To express its discontent with the nation’s current economic difficulties, GUTA had already said it will close all of its members’ stores in Accra on Monday, August 29, 2022.

The depreciation of the cedi, in the opinion of GUTA, has significantly hurt the members’ ability to conduct business.

The price of a dollar is currently GHC10, inflation is approximately 32%, and the policy rate is 22%.

Ghana’s government was compelled by its economic problems to request a bailout program from the International Monetary Fund (IMF).

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