Audio By Carbonatix
A lecturer in the Department of Finance at the University of Ghana Business School, Dr. Benjamin Amoah asserts that the constant depreciation of the cedi stems from weaknesses in the economy's fundamentals.
According to him, certain factors including inflation, unemployment, and interest rates have risen, and the government inability to control them has resulted in the free fall.
Speaking on Joy FM’s Top Story on May 14, he said “The fundamentals are definitely weak. We should not play jokes about it. The truth is that the fundamentals are very weak. What is the fundamental here? What is the inflation rate as we speak now and what is has been the inflation rate over time, very high. What is interest rate, that is the fundamental factor, it is very high."
“What is unemployment rate now? Unemployment rate is very high. What is our balance of payment position, it is very high and these are the very fundamentals that is used in accessing the exchange rate.”
He explained that addressing just one of the indicators does not resolve the depreciation of the cedi; rather, it requires effective management of each of these factors.
The cedi was trading against the dollar at GH₵ 11.98 but now hovering around GH₵ 14.80 at the forex bureaus resulting in a depreciation rate of close to 20% since the beginning of the year
Latest Stories
-
RESET: The unpunished betrayal of the Ghanaian consumer
7 minutes -
CICMG drives credit reform to strengthen Ghana’s financial sector
7 minutes -
Fashion’s hidden cost: Ghana’s burden, Ghana’s solutions, and the vision for a sustainable future
9 minutes -
GHS warns of rise in road traffic accidents during Christmas festivities
18 minutes -
PMI Ghana advocates for project management act after touring critical Accra-Tema Motorway & Extension Project
19 minutes -
Gender Ministry demands justice for abused 6-year-old in Asamankese
30 minutes -
Let’s build a bridge between ECOWAS and Sahel States – Mahama
36 minutes -
Hindsight: Is the GPL competitive, or are teams just inconsistent?
37 minutes -
Ghana’s diplomatic counterstrike: Vindication of sovereign dignity
37 minutes -
We’re committed to two-term presidential limit — NDC
38 minutes -
Zenith Bank Ghana kicks off the Christmas season with 2025 carols night celebration
38 minutes -
African films must be told with purpose and excellence to compete globally – Veep
46 minutes -
Access Bank Ghana wins 2 honours at 2025 Sustainability & Social Investment Awards
52 minutes -
Kuami Eugene takes rebranded highlife concert to Kumasi
53 minutes -
Africa Education Watch urges Parliament to act as truancy rises in Northern Ghana
56 minutes
