Businesses in the country are calling on the government to focus attention on stabilising the cedi to complement recent interventions in the 2017 budget and create the enabling environment for business and industry to thrive. The new government in its first budget statement abolished some nuisance taxes, a move that has widely been welcomed by … Read more
Introduction: In this currency status report, I will discuss the negative and positive factors that are currently impacting the Ghanaian economy in plain language devoid of economic jargon as much as possible. The Ghanaian economy, especially its Cedi, has come under renewed pressure over the last few weeks I the global currency markets. So lets … Read more
Ghana’s cedi and Zambia’s kwacha are set to end 2014 as the worst performing African currencies among a small basket that are relatively liquid, as falling commodity prices take a toll on some of the continent’s “lion” economies. The cedi has lost about 27 percent in 2014, one sign of a fiscal crisis in an … Read more
The Minister of Finance, Seth Terkper says the government’s main objective for opting for an International Monetary Fund (IMF) program is to stabilize the cedi to achieve a more predictable economy for investors. Government on Saturday announced that it would open talks with the IMF for a bailout to support the country’s ailing economy. President … Read more
Dr. Mahamudu Bawumia has revealed that the Bank of Ghana, under the National Democratic Congress government, has spent a whopping $6.5 billion from 2009 to date, in their failed attempt to stabilize the value of the Ghana cedi. Notwithstanding this large expenditure of scarce foreign exchange reserves, Ghana’s currency is now officially, the worst performing … Read more
Confirmed reports reaching The Accra Report indicate that the Government of Ghana has decided to go for an IMF bailout to save the Ghana’s economy from crumbling. Ghana is currently reeling under a litany of economic hardships as the local currency (the cedi) is currently the world’s worst-performing currency this year, 2014. The Ghana cedi … Read more