fbpx
Wednesday, July 16, 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

Ghana can have strong currency if only economy is managed well – Govt told

Kumasi Online by Kumasi Online
26th September 2022
in BUSINESS
0
26
SHARES
216
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp
ADVERTISEMENT

Director of Research at the Institute of Economic Affairs (IEA) Dr John Kwakye has said prudent economic management is what will strengthen the Cedi.

According to him, the Cedi’s savior lies in Ghana’s own policies, and  leveraging its own resources and capacities.

“Our saviour doesn’t lie with reparations or international economic order as the President seems to be drawing attention to lately.

“Our saviour lies in our own policies, leveraging our own resources and capacities. We can have a strong currency if only we manage our economy well. Why should the CFA be stronger than the cedi when the CFA countries are none more developed than Ghana?” he stated.

He added “The whole of Ghana seems to be waiting for the presumed saviour IMF that has not been able to save us on 16 previous occasions. Incredible!”

Earlier he indicated that another re-denomination of Ghana’s currency, the Cedi, is about to happen following the rising rate of inflation and also the depreciation against the Dollar.

Unless the managers of the economy rein in inflation and depreciation, Ghanaians should expect another re-denomination, he intimated.

The August inflation has reached 33.9 percent. This is a 2.2 percent increase in the July figure of 31.7 percent.

ADVERTISEMENT

Dr Kwakye tweeted “Phasing out 1 and 2 cedi notes from the economy as planned by BoG, will not only put pressure on the 5 cedi notes, but will also further fuel inflation.

“If we don’t rein in inflation and depreciation, it won’t be too long before we undertake another redenomination.”

In July 2007, the Cedi (¢) was redenominated to the Ghana Cedi (GH¢), such that ten thousand Cedis was now equivalent to one Ghana Cedi.

The re-denomination did not affect the intrinsic value of the currency – “the value will be the same”.

Two of the reasons given by the Central Bank for the re-denomination were the increasing difficulty in maintaining accounting and statistical records; and problems with accounting and data processing software.

ADVERTISEMENT

Source: 3news.com|Ghana

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

If A Woman Starts Developing Feelings For You, She Will Ask You These Questions

Next Post

Akufo Addo’s Act Attracts World Attention To Ghana But You Ungratefully Booed Him – Staffer Lament

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’s Act Attracts World Attention To Ghana But You Ungratefully Booed Him – Staffer Lament

Learn To Respect Akufo-Addo Even If You Do Not Like Him – Ransford Gyampo Tells Ghanaians

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