The Cedi is once again depreciating just eight days before the International Monetary Fund (IMF) Board is scheduled to review Ghana’s progress.
On the interbank market, the US dollar opened trading between GH¢15.30 and GH¢ 15.40 on June 19 2024, compared to GH¢ 15.15 and GH¢15.35 on Friday June 14. The Cedi continues to lose value as the demand for the dollar exceeds supply. The IMF Executive Board is set to meet on June 28 for the second review under the Extended Credit Facility, according to it’s published calendar. A successful review by the Board should lead to the disbursement of the third tranche of $360m a crucial inflow that the government hopes will help stabilies the cedi.
However, Currency Analysts are skeptical about the effectiveness of the $360m in halting the cedi depreciation.
Reacting to this on Plan B FM’s ‘Nkosuonsem’ hosted by Obidehyie Kofi Sekyi, a Communication team member of the New Patriotic Party NPP (NPP), for Tema West Constituency, Mr. Kwabena Adjei said that NPP government led by President Nana Akuffo-Addo has done extremely well but there are some things hindering the progress of his administration.
“President Nana Akuffo-Addo should have sacked the Governor of Bank of Ghana, Dr. Ernest Addison from BoG and also Ken Ofori Atta, the Former Finance Minister must be sacked from Nana Akuffo-Addo’s government” he indicated.
The National Communications team member of Movement for Change, Mr. John Kofi Adusei Opoku also on ‘Nkosuonsem’ stated that
“President Nana Akuffo-Addo has failed Ghanaians woefully. I’m urging Ghanaians to vote massively for Hon. Alan John Kwadwo Kyerematen the Independent Presidential Candidate for transformational leadership”
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