Tag Archives: depreciation

Ken Ofori-Atta, Minister of Finance, disclosed in the 2023 budget statement that Ghana’s public debt has increased by GH₵93 billion ($6.53 billion at the current rate) due to the depreciation of the Ghanaian cedi since the beginning of 2022. According to him, the said amount is twice more than the …

President Akufo-Addo has called on Ghanaians to stop the unfounded speculations about the value of the local currency against other major trading currencies across the globe. Addressing the nation on Sunday, he said the speculations have contributed to the consistent depreciation in the value of the cedi in recent times. …

Nana Addo Dankwa Akufo-Addo during his opposition days was a real thorn in the flesh of the government of the day. He knew not only how to hit the government of the day where it hurts, but also came across as man with principles and conviction wielding an alternate working plan …

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. …

  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 …

Spokesperson for the Vice President of Ghana, Dr. Gideon Boako dreads Ghana may suffer worse currency depreciation and economic woes should the Members of Parliament continue to conflict themselves. As an economist, Dr. Gideon Boako held that the persistent misbehaviour of the Parliamentarians give little to no hope to investors …

While in opposition, one of the strong points of campaign for then candidate Nana Addo Dankwa Akufo-Addo was the exchange rate of the cedi against the dollar. Currently in government, the cedi under President Nana Addo Dankwa-Akufo-Addo is trading at about 7.38, a situation that has elicited several concerns. As of May …

Founder and leader of the Ghana Freedom Party (GFP), Akua Donkor, has blamed the current economic hardships in Ghana on the exportation of raw materials and mineral resources from the country. She argues the exportation and sale of these resources at a cheaper price and then importing their finished products …

Ghanaian rapper, Kwaw Kese, has called out Vice President, Dr Mahamudu Bawumia, for failing to honour his campaign promise of reviving the Ghanaian economy. In a time when the cedi’s woes keep worsening, Kwaw Kese has noted that it is clear the current government couldn’t rescue the cedi against the American …