Cedi, inflation threat: Gov’t must do its part – BoG

Read Article

Comments (12)

This article is closed for comments.

Read Comments Comments (12)

Kwasi 10 years ago

Interest rate increase should have come first and monitored over a period. The "NEW" currency restrictions (some of the measures are old/existing stuff) would do more harm than go.

Besides this is Global problem as all eme ...
read full comment

Interest rate increase should have come first and monitored over a period. The "NEW" currency restrictions (some of the measures are old/existing stuff) would do more harm than go.

Besides this is Global problem as all emerging countries are facing depreciation of their currencies (India, Turkey, Brazil, South Africa etc..) Why use draconian ineffective local measures to tackle a global problem. These currency restriction has historically not been effective in any country. Better to use interest rate tio make inward investment attractive

The number one issue here (...among others) is the US fed decision to ease the financial stimulus (ie the buying back of bonds, - in other words reducing the cheap $'s that they have been giving to the banks). $'s has no boundaries! The result is less cheap $$, and $$ going back home (US) hence scarcity the world over
Kalahariman 10 years ago

Very true. Too many economic adjustments at one time kills the economy. Adjusting interest rate and pumping more dollars (200 million ) into the economy will have been a better solution. BoG's 20million is peanuts to the econ ...
read full comment

Very true. Too many economic adjustments at one time kills the economy. Adjusting interest rate and pumping more dollars (200 million ) into the economy will have been a better solution. BoG's 20million is peanuts to the economy.

The dollar will continue to rise due to the USFed decision to pull the plug off the stimulus package buying back bonds. Ghanaian economists should know this. Also, the fall in prices of the main foreign exchange earners: cocoa, gold and oil has been going down lately - meaning less foreign exchange coming in for Ghana.

The rest of the other stuff BoG is doing in my opinion, will worsen the situation eg increase in black market, shortage of goods and inflation.

I pray that BoG revisits some of the rules and eliminate those that will kill the economy quicker. I think the economy is over dosed with too much medication... I agree you should not be allowed to leave the country with over 10,000 but don't discourage Ghanaians from saving their foreign currency in banks for they will save it at home. Encourage them with higher interest rate to bring it to the banks.
YES WE CAN 10 years ago

LETS THINK FOR OUR LEADERS BCOS, THEY ARE NOT SMART. THEY THINK THESE HYBRID CARS ARE LUXURY AND THEY CHARGE MORE DUTY FOR THESE CARS. OH GHANA WHEN. IN USA GOVERNMENT EVEN GIVES YOU CREDIT FOR USING THESE CARS BECOS YOU SAV ...
read full comment

LETS THINK FOR OUR LEADERS BCOS, THEY ARE NOT SMART. THEY THINK THESE HYBRID CARS ARE LUXURY AND THEY CHARGE MORE DUTY FOR THESE CARS. OH GHANA WHEN. IN USA GOVERNMENT EVEN GIVES YOU CREDIT FOR USING THESE CARS BECOS YOU SAVE GAS AND THE ENVIRONMENT.
dan 10 years ago

somthing is very wrong with mahama nad ndc they seem to panish regular falks that want small cars to be able to move around up and down

somthing is very wrong with mahama nad ndc they seem to panish regular falks that want small cars to be able to move around up and down
dan 10 years ago

TO INVESTIGATE THE GHANA BANKS THAT RIPP OFF FALKS IN GHANA AND COMITTING FRAUD AGAINST PEOPLE IN HOME LOANS WHEN WAS THE LAST TIME BOG DID ANY ADUIT OF THE BANKS THAT "GIVE" HOME LOANS

TO INVESTIGATE THE GHANA BANKS THAT RIPP OFF FALKS IN GHANA AND COMITTING FRAUD AGAINST PEOPLE IN HOME LOANS WHEN WAS THE LAST TIME BOG DID ANY ADUIT OF THE BANKS THAT "GIVE" HOME LOANS
CHIEF 10 years ago

EDEY BEEE K3K3

EDEY BEEE K3K3
Jojo 10 years ago

What an idiot ,he just put the economy of Ghana back 25 yrs ,trying to usedthe old monetary control methods of the 20th century to try and sort out 21st century Globalised issues.we all know how those policies failed in the p ...
read full comment

What an idiot ,he just put the economy of Ghana back 25 yrs ,trying to usedthe old monetary control methods of the 20th century to try and sort out 21st century Globalised issues.we all know how those policies failed in the past.Two days after these measures the Cedi is falling even faster.Dr wampah the Governor of the Bank of Ghana should realize that we are living in a global Village and it is globalization not dollarization that is taking place in many countries.you cannot wish or legistlate it away.behaving like daylight robbers raiding private accounts of legitimate and lawful accounts in Banks seizing their dollars arbrarily,I wonder what the Courts will have to say about this when the BOG is taken to Court for acting illegally.Maybe Dr Wampah should be reminded that he and the BOG are not the law,they must act within the law.
SAARA-MENSA 10 years ago

ARE YOU FOR MACRO- ECONOMICS OR NICRO?
YOU CANT HAVE IT 2-WAYS. EITHER YOU CHOOSE RESERVES OR INFRUCTACTURE, NOW TELL ME!

ARE YOU FOR MACRO- ECONOMICS OR NICRO?
YOU CANT HAVE IT 2-WAYS. EITHER YOU CHOOSE RESERVES OR INFRUCTACTURE, NOW TELL ME!
JOE 10 years ago

GHANA PRODUCES GOLD IN RAW MATERIAL FORM SINCE 1900 YET THE COUNTRY HAVE NO GOLD REAL GOLD BACKING THE CEDI. GHANA IMPORT EVERYTHING INCLUDING TOOTHPICKS NO MANUFACTURING, NO BETTER COMPETITIVE INDUSTRIES SO WHAT DO YOU EXPEC ...
read full comment

GHANA PRODUCES GOLD IN RAW MATERIAL FORM SINCE 1900 YET THE COUNTRY HAVE NO GOLD REAL GOLD BACKING THE CEDI. GHANA IMPORT EVERYTHING INCLUDING TOOTHPICKS NO MANUFACTURING, NO BETTER COMPETITIVE INDUSTRIES SO WHAT DO YOU EXPECT. EVERY GHANAIAN WANTS OVERSEAS PRODUCT INCLUDING THE PRESIDENT NOT PATRONISING WITH LOCAL PRODUCTS FROM CHICKEN, RICE OVERRUNNING HIGH IMPORT BILLS AS WELL AS HIGH PUBLIC SALARIES, HIGH DEFICIT.
EVERYTHING IMPORTED INTO GHANA CAME OUT OF RAW MATERIALS GHANA SHIP TO OVERSEAS OR EXPORT. SOONER GHANA AND THE REST OF AFRICA REALISED HOW DANAGING IMPORT OF FINISHED GOODS, IMPORT BILLS ARE DISTROYING THE ECONOMY.
JOE 10 years ago

GHANA NEED MANUFACTURING INDUSTRIES, CONSUME LOCALLY, MECHANIZED AGRICULTURE, IRRIGATIONS SYSTEM FOR FARMING ALL YEAR ROUND TROPICAL COUNTRY. DEMAND, MAINTAIN BETTER ROADS, RAIL, REDUCE HIGH PUBLIC WAGES BILLS, PAY SALARIES E ...
read full comment

GHANA NEED MANUFACTURING INDUSTRIES, CONSUME LOCALLY, MECHANIZED AGRICULTURE, IRRIGATIONS SYSTEM FOR FARMING ALL YEAR ROUND TROPICAL COUNTRY. DEMAND, MAINTAIN BETTER ROADS, RAIL, REDUCE HIGH PUBLIC WAGES BILLS, PAY SALARIES E-PAY, E-CHEQUE, ELIMINATE GHOST NAMES IN PUBLIC WAGE BILL. ACOUNTABILITY, ACCOUNTABILITY, ACCOUNTABILITY, NOTHING ELSE SHORT OF THAT
Dickson Azilagbetor 10 years ago

In Ghana a lot of small businesses evade tax this results in lack of revenue mobilization.The govt should network all the business activities in the country for tax purposes

In Ghana a lot of small businesses evade tax this results in lack of revenue mobilization.The govt should network all the business activities in the country for tax purposes
ama 10 years ago

Does the president, minister of finance and committee for finance in parliament know their job. Learn from developed countries. The economy is in bad shape and you want to increase the interest rate how will money flow in the ...
read full comment

Does the president, minister of finance and committee for finance in parliament know their job. Learn from developed countries. The economy is in bad shape and you want to increase the interest rate how will money flow in the system. Corruption will rise b'cos people need to survival.

Cedi, inflation threat: Gov’t must do its part – BoG

Read Comments .st0{display:none;fill:#14BDD3;} .st1{display:none;} .st2{display:inline;fill:#FC0F0F;} .st3{display:inline;fill:#FFFFFF;} .st4{display:inline;fill:none;stroke:#000000;stroke-width:6;stroke-miterlimit:10;} Comments (12)

Read Comments Comments (12)