Economic and Political Risk Analyst, Dr. Theo Acheampong, says Ghana’s recent economic gains will most likely last into the New Year.
However, the ability to sustain it for a longer period will be largely dependent on how well the debt operation policy does.
Ghana’s cedi has gained some grounds against the dollar in recent weeks. The cedi currently goes for 12.55 cedis a dollar. This is an appreciation from the 14.5 cedis a dollar it was at a month ago.
While the cedi seems to stabilize against the dollar, very little decrease is seen in Ghana’s inflation rate.
According to Dr. Acheampong, while the inflation numbers are slowly coming down, any significant decrease will be seen in the middle of next year, hopefully, when the government finally secures a deal with the IMF.
“Inflation is driven by several factors so I think really if you look at the numbers, the current inflation levels are sort of coming down and then we’re also seeing the numbers being further adjusted going forward. So I think, we’re probably at the top in terms of the inflation numbers.
“And the announcement or the short-term gains that we’re seeing will likely be sustained going into the New Year. But whether or not we can drag that or maintain this forward for a year or two is really more or less is dependent on the formal programme being announced.
“That is the work or the remit of the Central Bank and it comes down to several factors so it’s very difficult to pontificate or to forecast when inflation will start coming down in the considerable numbers that we expect.
“Currently, we’re sitting at almost 40%; government expects 28 or 29 percent for next year. I think we’ll probably have to wait till about the middle part of next year to see the numbers start coming down,” he said.
- MP for Kumawu, Philip Basoah is dead
- We would all have sworn to Antoa if my dad was alive – Zanetor Rawlings
- I don’t know – Akufo-Addo on presence or otherwise of Al-Qaeda troops in Ghana
- Kamala Harris urges Ghana’s creditors to help meet debt obligation amid IMF talks
- Popular American filmmaker Spike Lee is in Ghana
- BoG increases policy rate to 29.5%; loans to remain expensive
- Gold Mafia: Gold smuggler sneaks $40 million worth of gold out of Ghana every month
- AFCON 2023Q: Osman Bukari salvages point for Black Stars against Angola
- We’re committed to helping Ghana resolve current economic crisis – China assures
- The 3 MPs who missed out on voting during approval of ministerial nominees
- Tems, Wizkid win at iHeart Radio Awards
- Speaker Alban Bagbin installed new sub-Chief of Awudome
- Employment Ministry cautions public against recruitment scam
- Angélique Kidjo says the Grammys ‘need diversity’
- Billionaire’s son admits role in death to BBC
- Livestream: Kamala Harris addresses Ghanaians from Black Star Square
- VGMA 2023: Kwabena Kwabena didn’t file for nominations – Manager
- US partnership with Africa is for mutual benefits – Kamala Harris
- ‘Why approve the man who caused me such pain?’ Sam George questions Minority MP colleagues
- Ecozoil educates Azizanya community on importance of life jackets
- Creed III actor Jonathan Majors charged with assault and harassment
- Cape Coast residents upbeat about Kamala Harris’ visit
- ICGC commended for sustained effort in bringing mental health issues to spotlight
- Sights and sounds: Akufo-Addo hosts Kamala Harris at banquet
- Kamala Harris meets Ghanaian creatives in Accra