
Audio By Carbonatix
Vice President John Dramani Mahama has indicated that government expects the current free fall in the value of the cedi to halt in the next few weeks.The local currency continues to depreciate in value despite new measures by the Bank of Ghana to stabilize it.But speaking at the Ghana EU–Partnership meeting Wednesday, John Mahama says the decline should soon be over.“Recently there’s been concerns about the depreciating value of the cedi and the Bank of Ghana and the Ministry of Finance have worked together to take appropriate measures to mop up excess liquidity and to increase revenue and thereby ease the pressure on the cedi,” Mr Mahama said.“And so I know in the next few weeks we are going see some action in this regard.”“And we will see fair stabilization of the cedi in relation to the dollar; we think that an exchange rate anywhere between of 1.65 and 1.70, is a fair value and government will work to achieve,” he added.
The cedi has gone down by almost 14 percent from January to date.
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
-
GIPC woos Canadian investors for value addition in key industrial sectors
6 minutes -
Up to 90% of children with sickle cell risk early death without timely care — Dr Bankas warns
24 minutes -
Haruna Iddrisu empowers GES to clamp down on post-WASSCE celebrations in schools
28 minutes -
NACOC arrests three in Volta Region cannabis production and storage raid
39 minutes -
PAC Vice Chair raises alarm over stalled corruption prosecutions, calls for stronger enforcement
41 minutes -
Compassion International graduates urged to avoid deviant behaviour as they transition to independent life
55 minutes -
GES to set up committee to regulate celebrations on SHS campuses
1 hour -
School environment is for learning, not post-WASSCE celebrations – Haruna Iddrisu
1 hour -
School heads risk removal over extravagant student celebrations GES warns
1 hour -
Gov’t moves to tackle student misconduct as education minister announces national forum
1 hour -
Haruna Iddrisu extends ban on lavish school celebrations to all schools in Ghana
1 hour -
Keir Starmer resigns as prime minister and leader of Labour Party
1 hour -
From London to Accra: The UK-Ghana growth partnership in action
2 hours -
Six dead, 34 rescued in multiple road crashes across Volta Region on Sunday
2 hours -
NCPTA’s Deafening Silence: How parental failure, moral decay and social media excesses are turning Ghana’s schools into theatres of indiscipline
2 hours