
Audio By Carbonatix
Government’s projection for the cedi to stabilize in the next few weeks might not be realized.That’s the view of an economist with the Institute of Statistical Social and Economic Research.The vice president last week announced that government is expecting the cedi’s free fall to halt in the next few weeks, following the latest interventions by the Bank of Ghana to mop up the excess cedi in circulation.But Professor Peter Quartey tells Joy Business such monetary interventions often take about three months to yield any results.The cedi has gone down by a little over 14 percent against the dollar from January to date. You would need GH¢1. 91 to buy a dollar on the forex market as at MondayProfessor Quartey adds that stabilizing the cedi especially during an election year will be quite difficult for government
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Netherlands Fire Chief in Ghana to support fire safety reforms and market fire prevention efforts
1 hour -
Mason goes on remand for stealing
1 hour -
Gov’t cuts fuel taxes, deploys buses to curb impact of rising fuel prices
2 hours -
Interior Minister calls for intelligence-driven strategy as Ghana strengthens counter-terrorism efforts
2 hours -
Adenta Circuit Court remands Pastor William Gyimah over viral threats against Vice President
2 hours -
“We’ve implemented changes to prevent a repeat of the AFCON final” – CAF President Motsepe
2 hours -
Gov’t orders deployment of Metro Mass buses to cushion commuters amid fuel price hike
3 hours -
Key Indian state polls begin in test for Modi’s party
3 hours -
Playback: Gomoa Easter Carnival in photos
4 hours -
Gov’t orders removal of fuel taxes to ease pump price hikes
4 hours -
“Whatever the decision of CAS, we will respect it” – CAF President Motsepe after AFCON final meetings in Morocco
4 hours -
Emma Ankrah: When waiting becomes part of treatment – Reflections on hospital care
4 hours -
Ghana urges travellers to prepare for new EU border system roll-out
4 hours -
Mahama enforces fuel coupon ban for ministers as cabinet moves to slash fuel taxes
4 hours -
Task force probes strange fish deaths in Tema
4 hours