Tag Archives: Cedi depreciation

The Deputy Minister for Finance and a member of parliament for Nhyiaeso constituency in the Ashanti region., Dr Stephen Amoah, says the depreciation of the Ghana cedi is a ritual problem caused by the import-driven economy. Speaking to the media on Wednesday, he highlighted that with importation putting demand on …

A nationwide coalition of traders’ associations has issued an urgent plea to the government, calling for swift action to stabilize the exchange rate and seeking a reduction of the rate of US$1 from GH¢15.50 to GH¢ 10.00. This adjustment is considered crucial for the sustainability and growth of small and …

The Ghana Union of Traders Association (GUTA) has called on the government to take urgent measures to ensure the cedi appreciates against major trading currencies, especially the dollar. “GUTA expresses its readiness to collaborate with the government and other stakeholders on this issue,” it added in a statement dated May …

Interest rates inched up to 33% to reflect surging inflation and the rapid depreciation of the cedi.   The increase in interest rates is however lower than the current inflation of 37.2% and the rate of cedi depreciation which is more than 50%. This means the real rate of return …

The price of cement surge above ¢80 per a 50 kilogramme bag as inputs costs of the manufacturers rise. This is about 10% increase over the last price adjustment in almost two months ago. Checks by Joy Business at some retail dealers indicate that the price of cement vary from …

The Information Minister, Kojo Oppong Nkrumah   has said some dollars will be injected into the economy soon to halt the sharp depreciation of the Ghanaian Cedi. Kojo Oppong Nkrumah said about $2 billion will hit the government’s account shortly. For the breakdown, he said $750 million is expected from …

Cement prices are expected to be increased from next week. Joy Business is learning that the wholesale price of a 50 kilogramme bag is expected to hit ¢68.00, from the current price of ¢59.00.       Why the increase? According to some of the leading manufactures in the country, …

The President of the Ghana Union of Traders Association (GUTA) has raised concerns about the depreciating value of the cedi and its effect on businesses in the country. Speaking in an interview on The Probe on Sunday, Mr. Joseph Obeng stated that members of GUTA are calling for a demonstration …

Head of Economics Department at the University of Ghana, Professor William Baah Boateng has called on the government to implement more aggressive measures to cut down on government expenditure. According to him, it was about time the President and or the Finance Minister introduce new austerity measures to reduce the …

The Ghana cedi has depreciated by 1.7% to the US dollar in the first nine months which will end next Thursday September 30th, 2021, according to data from the Bank of Ghana (BoG). The Central Bank pegged the rate of the cedi to the dollar at ¢5.86, though it is …