Home / BUSINESS NEWS / Gov’t Working To Stablize Cedi, Check Inflation – Dr. Bawumia

Gov’t Working To Stablize Cedi, Check Inflation – Dr. Bawumia

Spread the love

The Vice President of Ghana, Dr. Mahamudu Bawumia says government and the Bank of Ghana are working together to stabilize the cedi and check inflation.

Dr. Bawumia says the Central Bank has begun implementing a number of policies to address inflation, which currently stands at 33.9 percent.

The Vice President was speaking in an interview with a Kenyan TV station.

“In Ghana, we are dealing with the issues in the context of a very squeezed or tight budget. On the Monetary Policy side, the Central Bank is trying to control inflation. There have been a number of interest rate increases to deal with the situation.”

See also  The Vice President, Dr Bawumia Paid a Visit To Victims Of The  Kantamanto Market Fire Outbreak.

But economists have warned that the continual rise in interest rates may worsen the country’s economic challenges.

Ghana’s inflation continues to rise, reaching 33.9 percent in August 2022.

The development has raised concerns about Ghana’s rising inflation rate in history amid a cost-of-living crisis.

The Government Statistician, Prof. Samuel Kobina Annim has already said the current rising inflation in the country has more to do with the country’s fiscal policies rather than monetary policy.

According to him, confirmed data collected by the Ghana Statistical Service points to the fact that the rising cost of goods can only be tackled through policy decisions taken by the government on the supply side of things.

See also  In  2008 Akufo-Addo And Myself Lost By Just 40,000 Votes But We Prioritized Peace And Conceded Defeat - Dr Bawumia

The Bank of Ghana is also attributing the situation to a combination of tighter global financing conditions, sharp pressures on the exchange rate, and elevated inflation, which pose some policy challenges.

 

 

 

 

 

 

Thanks for reading from MyGhanaMedia.com as a news publishing website from Ghana.

 

 

Source:  MyGhanaMedia.com

 

There are four types of content published on   MyGhanaMedia.com daily: curated content; syndicated content; user-generated content; and original content.

 

 

Are You Suffering From Weak Erection, Low Libido, Premature Ejaculation Or Infections? – Get M-Plus No

See also  National Cathedral Board Of Trustees Refutes Reports Of Resignations

 

 

 

  Maccun Plus (MPlus) is for men and women as a natural aphrodisiac with no side effects

Just contact the number below for M PLUS HONEY.

024-377-7896 / 0561193978

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Send your news stories to my[email protected] and Chat with us via WhatsApp on +233 200818719

 

 

About Adwenpa-Hene

I'm Adwenpa-Hene |Blogger & Broadcaster Journalist. I am the CEO and manager of this noble website. I publish on Entertainment, Sports, Politics, Lifestyle, and Technology. You can also follow Us on : YouTube Channel - My Ghana Media TV, Facebook - MyghanaMedia TV , Twitter - @MyGhanamedia2 & Instagram - My Ghana Media TV. Email Address: [email protected] Contact Us: 0200818719

Check Also

Katanga Alumni To Education Minister: Help Release Arrested Students

Spread the love The Katanga Hall Alumni Association of the Kwame Nkrumah University of Science …

Leave a Reply

Your email address will not be published.