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 Monday
Professor 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
-
APL launches national trackers to measure governance trust and economic wellbeing
1 minute -
I am no longer with Lynx Entertainment – KiDi
2 minutes -
Roc Nation Sports International confirms return of Roc Cup to Ghana in 2027
3 minutes -
GMet forecasts thundery rains for southern Ghana, sunny spells in the north
5 minutes -
Court denies businessmen bail in Gh¢49m gold fraud
24 minutes -
Okada rider remanded over GH¢37,000 gold necklace robbery
31 minutes -
“Juju can influence attraction, but building relationships require effort” — Kwaku Bonsam
32 minutes -
Ghana calls for climate justice in global energy transition
41 minutes -
Orphaned baby hippo to be hand-reared by keepers at Kenya sanctuary
44 minutes -
Cruise passengers tell of life on board stranded ship after hantavirus outbreak
45 minutes -
Airlines cut 13,000 flights in May as jet fuel prices soar
46 minutes -
We’ve been denied access to re-arrested Buffer Stock ex-CEO and wife – Godfred Dame
53 minutes -
Ubuntu inter-orphanage games: A celebration of shared humanity
56 minutes -
3i Africa Summit: GhIPSS eyes cross-border payment expansion
1 hour -
Private Vehicle Testing Stations push for machine-based vehicle testing, demand revenue share review
1 hour