The depreciation of the Ghanaian cedi against the US dollar continues its upward trend on the commercial forex market, with the loss in value nearing 10% for the first four months of 2024. Since the beginning of the year, the cedi has experienced marginal depreciation marking a year-to-date depreciation of approximately 9.37%. However, this marks […] The post Cedi-dollar
Dr. John Kwakye, the Director of Research at the Institute of Economic Affairs (IEA), has criticized the Akufo-Addo government for its dependence on funds from the International Monetary Fund (IMF), World Bank, and other donor agencies to strengthen the local currency. He labelled the government’s heavy reliance on foreign aid, including Eurobonds and cocoa syndicated […] The post Ghana’s
Professor John Gatsi, economist and Dean of the University of Cape Coast Business School, has maintained that the indicative exchange rate used by the Bank of Ghana (BoG) is not reflective of the cost structure of business in the country. According to the central bank, the cedi depreciated at 6.8 percent against the US dollar […] The post Relative
Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has explained why the local currency, the Cedi depreciated against the major trading ones, the Dollar, Pounds, and Euros, at a time when the local economy was expanding. Recently, the Government Statistician, Professor Samuel Kobina Annim announced that Ghana’s economy grew by 2.9% in 2023, […] The post Addison
The Minister of Finance, Dr. Mohammed Amin Adam, has said the Cedi has been largely stabilised since early 2023 against the major trading currencies. According to him, the cedi cumulatively Read More... The post Cedi Largely Stabilised Since 2023 appeared first on
Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has said that the foreign exchange market came under some seasonal pressures in February and early March 2024. However, he said, the Ghana cedi continues to recover its value. The pressures, he explained, emanated mainly from the strengthening of the United States dollar in international […] The post Cedi continues
The foreign exchange market though came under some seasonal pressures in February and early March this year, the local currency continues to recover its value. According to the Bank Read More... The post Cedi Continues To Recover Value appeared first on DailyGuide
The Finance Minister, Dr Mohammed Amin Adam, has announced that Ghana is making significant progress towards achieving the targets outlined in the 3-year, US$3bn IMF Supported Post Covid-19 Programme for Economic Growth (PC-PEG). During his first monthly press briefing on the economy in 2024, held on Tuesday, Dr Amin Adam disclosed, “The Ministry of Finance […] The post $3bn
The Ministry of Finance has emphasized the progress of the cedi since 2023, asserting that the currency has exhibited stability against major currencies. Finance Minister Dr. Mohammed Amin Adam highlighted this achievement during the Ministry’s Monthly briefing in Accra on Tuesday, March 26, 2024. Dr. Adam pointed out that from February to December 2023, the […] The post Cedi
Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has said that the Cedi was relatively stable in the first quarter of 2024 against the major trading currencies, especially the Dollar. He says they expect the stability to continue. Answering questions at the 117th Moneyray Policy Committee (MPC) press conference in Accra on Monday […] The post Cedis is relatively stable
Ghana’s foreign exchange market came under some seasonal pressures in February and early March 2024, but the Ghana cedi continues to recover its value, Governor of the Bank of Ghana (BoG) Dr Ernest Addison has said. He explained that the pressures emanated mainly from the strengthening of the US dollar in international markets, and payments […] The post Ghana’s
– Talk about things to look out for when investing in a property and why Belmonte is a great investment choice Acquiring property is one of the most pivotal decisions most people will make in their lifetime, and it is no wonder therefore that people tend to spend a lot of time researching before making […] The post Property investment, an asset or liability appeared
With misfortunes of the early 2020s finding their way into 2023, it is not uncommon for people to predict continued economic hardship in the new year of 2024. Two weeks into the new year and the Gaza Strip war has already escalated to epic proportions. Thus, it is not strange to expect doom on the […] The post Trade expert predicts
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