
Audio By Carbonatix
The Ghana cedi is set to come under serious pressure again over the projected fall in prices of gold and cocoa on the international market.
The World Bank in a recent report noted that Ghana's earnings from the exports of gold and cocoa will drop substantially in the days ahead.
The bank based its predictions on the huge fall in prices of the two commodities in the coming months.
The country over the years has depended on hard currencies earned from exports from gold and cocoa to finance imports and shore up the local currency's value.
Dr. Joe Abbey, an Economist, states that with less earnings from exports and an less controlled imports, "the Bank of Ghana would have to draw down on its holding of foreign exchange to meet the gaps".
Despite its stability, the Ghana cedi is currently the second most depreciated currency in Africa, according to the latest Ecobank report on the performance of currencies in Africa.
The report puts the cedi's rate of depreciation at 14.5 percent, second to the Lesotho's Loti of 19.3.
Latest Stories
-
Health Ministry engages Ga Mantse ahead of Free Primary Healthcare launch
9 minutes -
We can tackle multiple priorities – Sam George defends Anti-LGBTQ Bill push
44 minutes -
Statement: Ghana Chamber of Mines’ Response to Claims in Joe Jackson’s “Ananse Stories about the Economy of Ghana”
46 minutes -
GES opens 2026 teacher recruitment for licensed B.Ed graduates
48 minutes -
Ghana must value skilled trades, build resilient learners — Ibn Chambas
56 minutes -
Ghana must rethink education around relevance, resilience and responsibility — Ibn Chambas
59 minutes -
Prince Harry faces defamation lawsuit from charity he co-founded
1 hour -
South Korea deploys thermal cameras to track escaped zoo wolf
1 hour -
Calls for royal meeting with Epstein survivors grow ahead of US visit
1 hour -
Ibn Chambas advocates blend of technology and human values in education
1 hour -
UMA improves healthcare access in Asutifi North with GH₵700k ‘Kim Taylor Legacy’ Walkway
1 hour -
Scholarships Authority and Fanaka University offer sponsorship for procurement and supply chain studies
1 hour -
Bisa Kdei drops new single ‘Go N Look’ featuring Medikal
1 hour -
Benin facing rising terrorism in north as French military presence faces growing criticism
1 hour -
UEW Public Lecture Series 2026: Education debate ‘about the soul of Ghana’s future’ — Dr Ibn Chambas
1 hour