Ghana drops plans for longer-term debt as Cedi plunges

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SCHESCHELLES ADAMS 9 years ago

While the Cedi drops in value the Nigerian naira keeps soring against the major currencies, is anything wrong if Ghana approaches Nigeria for supports for the Cedi. I am aware Germany which is the strongest economy in the Eur ...
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While the Cedi drops in value the Nigerian naira keeps soring against the major currencies, is anything wrong if Ghana approaches Nigeria for supports for the Cedi. I am aware Germany which is the strongest economy in the Euro zone is doing the same to support the likes of Greece and Spain whose economies are struggling. Let Ghana swallow it pride and do same to save the economy and to stop the continued slide of the Cedi. The Cedi which was exchanged in less than six months with the naira on 1 to 1 is now 2 to 1 against the Cedi. Even traders along the Lagos route are begining the feel the weight of the lost in strenght of the Cedi.
Joe 9 years ago

Be professional in ur reportage databank financial services owned by ken offori Atta Nana Addo's brother. Kindly highlight on positives that will enhance movement forward for the betterment our Ghanaian people/nation. Long li ...
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Be professional in ur reportage databank financial services owned by ken offori Atta Nana Addo's brother. Kindly highlight on positives that will enhance movement forward for the betterment our Ghanaian people/nation. Long live the people of Ghana
Calabar 9 years ago

Haha when ghana re-denominated the cedis they wer shouting $1 = 1GHC, that the cedis is now more than the Nigerian naira when ghana took out almost four zero's (0000) from the old cedis, then $1 = 10000GHC, and naira was abou ...
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Haha when ghana re-denominated the cedis they wer shouting $1 = 1GHC, that the cedis is now more than the Nigerian naira when ghana took out almost four zero's (0000) from the old cedis, then $1 = 10000GHC, and naira was about $1 = 150 naira, If Nigeria re-denominate the Naira it will be $1 = 1.6 Naira (that is removing three zero's) if Nigeria removes four zero's like ghana did it wil be $1 = 0.6 naira, but thats al rubbish, the purchasing power of a currency is what determine the strength of it and not by $1 = 1GHC some ghanaians even thought the cedis was more than the chinese yaun and japanese yen and equal with the american dollar hahaha
ABDULHAMEED ABOUBAKERR 9 years ago

I believe Ghanaians who were jubilating in 2007 when the Cedi was redenominated and erroneously felt the GHc had become equal to the dollar will now beging to do a re-think of their stupidity. The value of a currency is after ...
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I believe Ghanaians who were jubilating in 2007 when the Cedi was redenominated and erroneously felt the GHc had become equal to the dollar will now beging to do a re-think of their stupidity. The value of a currency is afterall not the number of zero it carries but the strength in terms of purchasing power. The Nigerian naira today still wears its zeros but remains the strongest currency on the continent brcause of the booming economy. The Italian Lira before it adopted the Euro was denominated in several zeros of millions and trillions and yet had one of the strogest economy in Europe. Unfortunately, the economy of Ghana is weak and unable to match the gargantuan taste of average Ghanaian and thats the bottom line.

The immidiate solution is for Ghanaians to stop self deciet and cut back the taste for certain luxury items and the taste for foreign goods in general. Virtually every middle income earner in Ghana crave to own four wheel drive, unmindful of the drain on the family and the general strain on the economy. Nigeria and India are among the world's largest economies with very huge income base, yet the class of its citizens that drive high consumption vehicles are by far the high income earners of the society. The ratio of four wheel drive usage in Ghana as compared to Indian and Nigeria is about 5:2, the ratio is mockery of country that has lost its priority just live in self deception.

If no drastic measure is introduce in a forseable future, Ghana may be heading to the path of Zimbabwe which had to adopt South African rand, Botswana currency and the American dollar as its medium of exchange because its currency had become no longer store of value. Currently in some parts of the Ghana borders around Aflao and at Tudu in Accra, the Nigerian naira has become medium of exchage without problems because it is more prudent to hold and keep Nigerian naira than to have GHc in Banks. Ghanaians at this moment could pray for the acceleration on the adoption of the West African common currency the "Eco" to quickly bring sanity to the Ghanaian financial market otherwise the story as it stands today is very troubling and scary.
ama 9 years ago

Get ride of your idol worshiping and return to your God almighty,then God will show you.The ten comdment saids thou shall not worship any other god,even Iseal they worship idol God punished them,to you all ghanians lets all p ...
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Get ride of your idol worshiping and return to your God almighty,then God will show you.The ten comdment saids thou shall not worship any other god,even Iseal they worship idol God punished them,to you all ghanians lets all pray,too much evil going on in ghana
PEE 9 years ago

SOON 2016 IS HERE THE BETTER GHANA WILL BE. IT A SHAME THIS COUNTRY GHANA IS GOING BACKWARDS

SOON 2016 IS HERE THE BETTER GHANA WILL BE. IT A SHAME THIS COUNTRY GHANA IS GOING BACKWARDS
GHANA PRODUCE NOTHING 9 years ago

IT A SHAME GLOBALLY WHAT GHANA EXPORT RAW MATERIALS BUT IMPORT MORE THAN THE COUNTRY PRODUCE FOR 45YEARS THE CYCLE CONTINUE. BOOZOS LEADERS CANNOT FIX THE PROBLEM BUT RATHER COMPOUNDED THE PROBLEM

IT A SHAME GLOBALLY WHAT GHANA EXPORT RAW MATERIALS BUT IMPORT MORE THAN THE COUNTRY PRODUCE FOR 45YEARS THE CYCLE CONTINUE. BOOZOS LEADERS CANNOT FIX THE PROBLEM BUT RATHER COMPOUNDED THE PROBLEM

Ghana drops plans for longer-term debt as Cedi plunges

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