Tag Archives: CEDI

The Ghana Union of Traders Association GUTA has denied threatening to embark on massive demonstration against the Akuffo Addo lead government over the free fall of the Ghana cedi on international market. According to them, protesting against government in these trying times will not change the fortunes of the Economy. …

Former President, John Dramani Mahama has said the continuous depreciation of Ghana’s cedi “in recent days, clearly shows that the mid-year review of the 2022 budget failed to win back the confidence of the investor community”. The cedi as of August 9 is selling at GH¢9.12 to the US Dollar. …

Relief initiatives taking shape to ease food and debt As the supply-chain disruption caused by Russia’s war in Ukraine continues, international relief packages for Africa are starting to take shape. USAID this week pledged a $30m package to support Zambian food exports to East African countries to help ease the …

The governor of the central bank, Dr.Ernest Addison, has said that legal frameworks have been firmed up to commit Ghana into trading in local currencies among countries in the African continent. He said the central bank has embarked on reforms which will enhance financial transaction with Ghana and it’s neihghbouring …

On the Interbank forex rates from the Bank of Ghana today, July 1, 2022, the Ghana Cedi is trading against the dollar at a buying price of 7.2269 and a selling price of 7.2341. As compared to yesterday’s trading of a buying price of 7.2209 and a selling price of 7.2281. …

EU sanctions on Russian banks are exacerbating Africa’s growing food crisis by making it difficult to pay for wheat exports, according to African Union chair and Senegal President Macky Sall. He told EU leaders that the worst is still ahead if global food supply issues persist. The food crisis has …

Bank of Ghana Governor Ernest Addison has said developments in global capital markets, combined with internal challenges that resulted in the rating downgrade of Ghana’s economy, have played out to exacerbate price and exchange rate pressures in the domestic economy. The Ghana cedi, he noted, came “under severe pressure in the first …

  A private Legal Practitioner and Law Lecturer, Dr. John Baiden has petitioned the office of the Attorney-General to prosecute officials of the Bank of Ghana over the rapid depreciation of the Ghana Cedi. In his petition, he said, “The Bank of Ghana has compromised the Ghana cedi. It is out of line and …

Deputy Ranking Member on Parliament’s Finance Committee, Isaac Adongo, has cautioned of a further sustained depreciation of the Ghana Cedi. He believes government’s promise to raise and inject a capital of US$2 billion meant to shore the Cedi and stabilise the economy, is yet to get results. In a Facebook post sighted …

Vice President Mahamudu Bawumia has attributed the drastic depreciation of the local currency to challenges in approving the 2022 budget and the Russia-Ukraine war. According to him, the situation brought about low investor confidence in Ghana’s economy among others. “The financial markets’ assessments of the 2022 budget, unfortunately, concluded that …