Case seeking to compel BoG to stabilize the cedi adjourned

The case in which lawyer and banking lecturer, John Ephraim Baiden, is asking the Supreme Court to compel the Central Bank to stabilise the local currency has been adjourned to Monday.

The court was today expected to rule on whether the case should be made to go to trial, where parties will argue their cases out and call witnesses when necessary.

But the case was adjourned without any reason being assigned.

You would recall, Mr. Baiden filed the case in March this year, stressing that the cedi’s rate of depreciation over time does not show that the central bank is promoting and maintaining a stable currency for economic progress.

However, the performance of the Cedi has been mixed since that case was filed in March.

Though the cedi showed some remarkable appreciation against the dollar recently, today on the interbank market, the cedi depreciated marginally against the US dollar.

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: