Traders in Accra, the capital of Ghana, who have been on strike due to high business costs and financial difficulties, have chosen to halt their strike.
The government and Nii Tackie Teiko Tsuru II, the head of the Ga traditional council, are now in negotiations to settle the conflict.
Officials, according to members of the Ghana Union of Traders Association (Guta), have vowed to resolve their issues.
The traders in Accra had closed their businesses, and Guta’s president is now asking members to raise or lower their product prices following the rate at which the local currency is depreciating.
Currently, 14 cedis are worth one US dollar. The worst-performing currency in the world, it has lost 52% of its value relative to the US dollar since the year’s commencement.
The swift depreciation of the cedi, according to Finance Minister Ken Ofori Atta, is the result of the increased demand for US dollars to buy goods for Christmas. He advised Ghanaians not to panic.
