• About Us
  • Contact Us
Account
GTB
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
No Result
View All Result
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
No Result
View All Result
Account
Ghana Talks Business
No Result
View All Result

I’m troubled and worried about cedi depreciation – Akufo-Addo

28/02/2019
Reading Time: 2 mins read
cedi_depreciation
0
SHARES
Share on FacebookShare on TwitterShare on WhatsApp

President Nana Akufo-Addo says the government is doing all it can to halt the free fall of the Cedi, which has depreciated against the dollar from GHc 4.9 to over GHc 5 in the last two months.

Speaking at the commissioning of a factory at Kpone on Wednesday, he said: “I’m aware of the anxiety in business circles and the population about the recent depreciation of the Cedi. I am extremely upset and anxious about it too.”

“I want to assure that all efforts are being made to arrest the decline and restore the cedi to stability in order to improve the competitiveness of Ghanaian industry. Very soon, we will be seeing the results of our policy,” he added.

The performance of the cedi against major trading currencies is always a major concern in Ghana.

ALSO READ: The depreciation of the Ghana cedi: Some street reflections

In response to the recent concerns of the strength of the Cedi, the Bank of Ghana turned its attention to the forex market.

It issued directives on how participants in the forex market must conduct their businesses to stabilise the cedi and improve information flow.

The directives were categorized under areas such as ethics, fairness and integrity; general dealings principles and market conduct, as well as risk management compliance among others.

Meanwhile, the government has maintained that other economic fundamentals are strong irrespective of the fast depreciation of the cedi.

In an interview with Accra-based Citi FM, which was monitored by Ghanatalksbusiness.com, the Director of Treasury at the Bank of Ghana, Steven Opata, said of this: “If you look at the fiscal situation, it has improved significantly, if you look at the trade account, it’s been very solid. The current account has also been improving. The fundamentals are solid.”

Previous Post

Ghana Cedi to face more external threats – Bank of Ghana report

Next Post

Top 10 Largest Ponzi Schemes of the 21st Century

Related Posts

MostBet Registration Bangladesh

29/12/2023

28/12/2023

Праздничные подарки от 1 win насладитесь Новым Годом с дополнительными выгодами!

22/12/2023

How does the sizing of sp5der clothing run

22/12/2023

Azərbaycanda rəsmi sayt

20/12/2023

Mostbet Casino Azərbaycan üçün imkanlarını təqdim edir

20/12/2023
Next Post
Ponzi schemes; then and now, ghanatalksbusiness.com

Top 10 Largest Ponzi Schemes of the 21st Century

aliko_dangote

Africa’s Richest Man Makes a $17 Billion Bid for Immortality

  • About Us
  • Disclaimer
  • Privacy Policy
  • Advertising
  • Contact Us

© 2023 Ghana Talks Business

No Result
View All Result
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
  • Login

© 2023 Ghana Talks Business

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In