There is a need for an urgent national dialogue on how to rescue the cedi, Director of Research at the Institute of Economic Affairs (IEA) Dr John Kwakye has said. He observed that the official exchange rate has moved from 4.20 at the end of 2016 to 15.09 as of 9 August 2024, implying cumulative depreciation of 72% during the period. "There is a need for an urgent national dialogue on how to save the cedi from extinction!" her wrote on his X platform. Dr John Kwakye further indicated that fiscal discipline on the part of the government is one major way of ensuring stability of the exchange rate. For him, no policy can stabilise the exchange without financial discipline accompanying it. "If you practice fiscal and monetary discipline, you can maintain a stable exchange rate under a flexible regime with minimal reserves. Even a gold-pegged regime can't be viable without fiscal and monetary discipline," he wrote.