Browsing: cedi depreciation

This shows the sharp relationship the Cedi depreciation has on the untamed imported inflation. However, the Finance Minister has reiterated government’s commitment to stabilising the Ghana cedi by the end of the year.

The Central Bank says it vehemently denies the said allegations and also considers them extremely reckless.

The cedi is also expected to appreciate further in the wake of the first tranche of the annual cocoa syndication loan which would hit the accounts of the BoG next month.

The investor firm is also projecting a 30.1% fall in value of the cedi to the dollar in 2023. This means, the woes of the cedi will not get better anytime soon.

The president of the Ghana Union of Traders Association (GUTA) has called on the Bank of Ghana (BoG) to relax the laws on transacting business in dollars at the banks.

This means that cost of credit to households and the private sector would rise steadily in the next couple of months.

The Covid-19 pandemic and the conflict in Russia have magnified Ghana’s fiscal and external imbalances, S&P said.

The local currency has depreciated by about 18.89% to the dollar on the interbank market and 26% on the retail market.

Ghana’s balance of payment deficit has more than doubled for the first quarter of 2022

Further indicating that, it do not expect that private investment will meaningfully cushion the negative impact of subdued public infrastructure spending on the market’s construction industry growth, the agency said.