The Ghana National Chamber of Pharmacy has sent out a critical warning that Ghana might suffer a severe shortage of over-the-counter drugs soon if nothing is done about the depreciating currency.
The Chairman of the chamber Mr. Harrison Abutiate, briefed the media during an interview that members of the chamber are unable to secure foreign currency for the importation of raw materials for their products.
He bemoaned that the lack of action on ‘arresting’ the cedi has brought them to a point where Ghanaians would have to pay more for over-the-counter drugs due to a shortfall of supply.
Mr Abutiate implored the government to help them with access to better bank facilities to avert the impending drug shortage.
He said if the situation is not resolved, it is the ordinary Ghanaian that would suffer.
Prior to his call, the Centre for Democratic Development (CDD) released a report that also suggested that the price of over-the-counter drugs will shoot up by some 44 per cent in the wake of the Cedi depreciation.
Cedi One of Worst Performing Currencies Worldwide
According to the latest Bloomberg currency performance ranking, the Ghanaian Cedi is the second worst performing currency in the entire world, behind only Sri Lanka.
The worsening depreciation recently prompted the bank of Ghana to warn that forex traders flouting the foreign exchange law would have their establishments closed if found out.