On Wednesday, the Bank of Ghana announced measures to help address the cedi depreciation as well as the rising inflation.
This measure follows a recent currency performance ranking by Bloomberg which classified the Cedi as the worst-performing currency across the globe after Sri Lanka’s Rupee.
Bloomberg tracked the performance of 150 currencies in the world and the Cedi placed last but one in terms of performance since the beginning of the year.
In less than 8 months, the Cedi has come under intense exchange rate pressure due to its continuous depreciation in relation to some major international currencies such as the Dollar, Pound and Euro.
With current rates of inflation and depreciation, one might wonder if the measures are worthwhile. This brings us to tonight’s JoyNews Business Edition discussion.
Guests for the programme are: CEO of Association of Ghana Industries, Seth Twum Akwaboah, CEO of Ghana Chamber of Mines, Sulemanu Koney, Head of Economic Department of the University of Ghana, William Baah-Boateng and President of African Investment Group, Dr Sam Ankrah.