fbpx
Wednesday, July 2, 2025
  • HOME
  • ENTERTAINMENT
  • SPORTS
  • LIFESTYLE
  • BUSINESS
  • GENERAL NEWS
  • POLITICS
  • WORLD NEWS
  • TV
  • RADIOS
  • CONTACT US
  • OUR SHOP
No Result
View All Result
Kumasi Online Tv
Kumasi Online Tv
  • HOME
  • ENTERTAINMENT
  • SPORTS
  • LIFESTYLE
  • BUSINESS
  • GENERAL NEWS
  • POLITICS
  • WORLD NEWS
  • TV
  • RADIOS
  • CONTACT US
  • OUR SHOP
KUMASI ONLINE TV
No Result
View All Result
ADVERTISEMENT
Home BUSINESS

Cedi Is Third Strongest Currency In Africa- John Kumah

Kumasi Online by Kumasi Online
13th September 2022
in BUSINESS
0
14
SHARES
120
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp
ADVERTISEMENT

A Deputy Finance Minister, John Kumah, has debunked claims that the Ghana cedi is the weakest currency in Africa.

According to him, such a claim is mere propaganda meant to undermine the government’s fiscal measures in halting the free fall of the cedi against the dollar.

He stated that the cedi is currently the third strongest currency in Africa; however, he conceded that the rate of depreciation the cedi is experiencing might be the worst on the continent.

Dr. Kumah speaking on Joy News noted that currencies across the world are experiencing depreciations and thus, critics of the government’s fiscal policies cannot blame the poor performance of the cedi on fiscal mismanagement.

According to him “And look, I’ve heard all the propaganda, they said Ghana cedi is the worst in Africa and all kinds of things. Look, don’t believe those propaganda. I just returned from Tunisia on a programme, and Tunisia has the second strongest currency in Africa”.

“Ghana is third actually according to global ranking of currencies. I am talking about the strength of currencies in Africa. The Libyan Dinar, followed by Tunisian Dinar, and then the Ghana cedi is the third strongest currency in Africa. But maybe they were talking about the rate of depreciation”.

“I just saw what is happening in Nigeria and they are equally complaining that their Naira is not just four hundred and something to the dollar, but sometimes it’s even 700 depending on where … sometimes they can’t even find the dollar. So this is a global situation.”

He added, “So it is not just a Ghana situation, it is something that is happening globally and people should not begin to think that it’s as a result of some bad policy or whatever.”

ADVERTISEMENT

He stated that the government has put in place some measures it believes would stabilize the cedi against the dollar and shore up the economy.

ADVERTISEMENT

“But the good news is that…like we announced government is intervening with these foreign exchange auctions which occasionally Bank of Ghana does to intervene in the market to bring calm and stability to the foreign exchange front.

“And then we have also introduced this gold buying to shore up our reserves in gold. And not just that we are also expecting the Cocoa syndicated loans by the end of the month or early next month which will equally come in to shore up our economy,” he said

BY Daniel Bampoe

SEND A STORY: Do you have a story for us or need a promotion / advertisement? Submit them via our email dannyboy744@gmail.com and via on +233 266777777

Previous Post

Avoid Drinking Lemon Juice Immediately You Notice These

Next Post

Akufo-Addo, Dame are biggest beneficiaries of biased judiciary

Related Posts

BUSINESS

April’s inflation rate slightly decreases to 25%.

8th May 2024
BUSINESS

Dumsor compels retailers to keep fuel and generators inside their establishments GUTA says, ‘It’s dangerous’ for market safety and security

29th April 2024
BUSINESS

You have 120 days to raise funds in order to restructure operations, and two weeks to start paying salaries. Lands Min. to FGR

25th April 2024
BUSINESS

Ghanaians with foreign income are urged by GRA to voluntarily comply with their taxes

17th April 2024
BUSINESS

Petrol Price To Hit Single Digit- IES …Diesel To Drop To GHC11

30th December 2022
A petrol station worker fuels a car along Kimathi street on July 14 2019,after the Energy and Petroleum Regulatory Authority (EPRA) announced new retail pump prices of petroleum products effective from July 15 to August 14, 2019.price of super petrol increase by Sh0.29 per litre while diesel and kerosene decreased by Sh0.88 and SH2.31 per litre respectively.PHOTO|SILA KIPLAGAT
BUSINESS

COPEC predicts marginal reduction in fuel prices from January 1

30th December 2022
Next Post

Akufo-Addo, Dame are biggest beneficiaries of biased judiciary

Portions of La beach road to be blocked for three months

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

SUBSCRIBE TO OUR CHANNEL

LISTEN LIVE

PLACE YOUR ADVERT HERE

ENROLL NOW +233 550623377

LAST TWEETS




KUMASI ONLINE GH




KOBOKOBO (SEASON 1) EP 1
KOBOKOBO (SEASON 1) EP 2
KOBOKOBO (SEASON 1) EP 3
KOBOKOBO (SEASON 1) EP 4
KOBOKOBO (SEASON 1) EP 5
KOBOKOBO (SEASON 1) EP 6
KOBOKOBO (SEASON 1) EP 7
KOBOKOBO (SEASON 1) EP 8
KOBOKOBO (SEASON 1) EP 9
  • Blog
  • Privacy
  • Advertisement
  • Contact

Connect With Us Online Sales: 0208115183 | 0266777777 | Ads Dept: +233 550623377 © 2017-2024 All Rights Reserved Kumasi Online Ghana .

No Result
View All Result
  • HOME
  • ENTERTAINMENT
  • SPORTS
  • LIFESTYLE
  • BUSINESS
  • GENERAL NEWS
  • POLITICS
  • WORLD NEWS
  • TV
  • RADIOS
  • CONTACT US
  • OUR SHOP

Connect With Us Online Sales: 0208115183 | 0266777777 | Ads Dept: +233 550623377 © 2017-2024 All Rights Reserved Kumasi Online Ghana .

Verified by ExactMetrics