Cedi fall resurfaces

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Kofi UK 8 years ago

It is not a wise move to use huge sums of money to make the cedi artificially strong. If we have $20m dollars each day then we should spend it on beneficial projects but not propping a currency so insignificant in this world. ...
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It is not a wise move to use huge sums of money to make the cedi artificially strong. If we have $20m dollars each day then we should spend it on beneficial projects but not propping a currency so insignificant in this world. Strengthen your export to earn more foreign currency. This is the best way.
LARYEAH 8 years ago

I TOLD YOU SO. NDC GOVERNMENT HAS NO INTELLIGENT ECONOMIST TO MAN THE HELM OF THE NATION ECONOMY.

I TOLD YOU SO. NDC GOVERNMENT HAS NO INTELLIGENT ECONOMIST TO MAN THE HELM OF THE NATION ECONOMY.
SMART FREMPAH, UK 8 years ago

OMG!! From day one when I heard that the government was to inject $20m daily into the economy to prop up the cedi, I screamed: "What the hell, whose brainchild idea was this?" There are so many basic questions that defies log ...
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OMG!! From day one when I heard that the government was to inject $20m daily into the economy to prop up the cedi, I screamed: "What the hell, whose brainchild idea was this?" There are so many basic questions that defies logic in such an initiative: The most outstanding: Where is the money coming from? and how long was it going to continue? Have we lost all our economists to the brain drain or is just this government who want to rule with foot soldiers? The rate at which the cedi appreciated was so fake. Sometimes I feel like throwing out when I read or hear such decisions.
Andy B 8 years ago

The main aim of this publication is to make people loss confidence in the cedi and encourage people to buy dollar and store. Why the prediction. This is to create painic buying so that the dollar will artificial increase agai ...
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The main aim of this publication is to make people loss confidence in the cedi and encourage people to buy dollar and store. Why the prediction. This is to create painic buying so that the dollar will artificial increase against the cedi.
Farmer 8 years ago

Completely wrong. The dollar never appreciated "artificially" against the Cedi. Artificial was the intervention by the BoG which completely derailed a workable forex market effectively forcing every business in the country in ...
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Completely wrong. The dollar never appreciated "artificially" against the Cedi. Artificial was the intervention by the BoG which completely derailed a workable forex market effectively forcing every business in the country into speculation. The results are clearly visible.

Looking at things I started wondering a while ago if this was a targeted operation only to allow the government to buy lots of dollars at an artificially low rate. I am sure some people close to BoG and the ministry of finance have benefited greatly on this late disaster.
Andy B 8 years ago

The main aim of this publication is to make people loss confidence in the cedi and encourage people to buy dollar and store. Why the prediction. This is to create painic buying so that the dollar will artificial increase agai ...
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The main aim of this publication is to make people loss confidence in the cedi and encourage people to buy dollar and store. Why the prediction. This is to create painic buying so that the dollar will artificial increase against the cedi.
dadi 8 years ago

If you look back and see comments about the fall of the cedi you can see that most of the time only a few people comment on the issue but say something in the realm of politics and you will get tons of comment. why I am sayin ...
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If you look back and see comments about the fall of the cedi you can see that most of the time only a few people comment on the issue but say something in the realm of politics and you will get tons of comment. why I am saying this?
Either people do not see the gravity of the situation, the consequences of depreciated cedi, or they do not care.
The people in charge are practioners of experimentation with the cedi instead of using the law of demand and supply to tackle the problem. Until the government and BOG stop this artificial intervention we are in for a long rough ride.
It is market forces stupid.
mr amin 8 years ago

@dadi, i agree with u, very few ghanians comment on the cedi fall they are ignorant of the gravity of a falling currency, its the father n mother of all problems in this country, we are saving in cedis n it loses its value ho ...
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@dadi, i agree with u, very few ghanians comment on the cedi fall they are ignorant of the gravity of a falling currency, its the father n mother of all problems in this country, we are saving in cedis n it loses its value how do u devolop.
SMART FREMPAH, UK 8 years ago

This is how naive and ignorant the Ghanaian is when it matters most. Most people on this site are here to insult and spew out tribal sentiments. Just mention Nana Akuffo Addo and you will get over 200 comments most based on ...
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This is how naive and ignorant the Ghanaian is when it matters most. Most people on this site are here to insult and spew out tribal sentiments. Just mention Nana Akuffo Addo and you will get over 200 comments most based on tribal hate.
The decision by the BoG to inject millions of dollars to sustain the local currency was so fake. Who dare criticize it? We have all seen that not until pragmatic steps are taken to arrest the situation no adhoc measure can sustain it. It defies logic that a whole government could think this way. We are in a big mess.
mensa 8 years ago

AS LONG THAT THIS NDC GOVT HAVE NO ECONOMIC PLAN IN PLACE ,THE MHAMAH CURRENT VOODOO ECONOMIC IS THE PROBLEM AND IT DRAG OUR CURRENCY DOWN

AS LONG THAT THIS NDC GOVT HAVE NO ECONOMIC PLAN IN PLACE ,THE MHAMAH CURRENT VOODOO ECONOMIC IS THE PROBLEM AND IT DRAG OUR CURRENCY DOWN
ed 8 years ago

THERE IS NO WAY IN HELL THAT MAHAM CAN GET ELECTED WHILE THE CRIME RATE IS SO HIGH ,EMPLOYMENT RATE IS IN THE MILLIONS ,TAXES ARE ALL OVER THE PLACE AND OUR ECONOMY IS IN THE GUTTER ,ONE MAHAMA HAVE GONE THE CEDE WILL TURN ...
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THERE IS NO WAY IN HELL THAT MAHAM CAN GET ELECTED WHILE THE CRIME RATE IS SO HIGH ,EMPLOYMENT RATE IS IN THE MILLIONS ,TAXES ARE ALL OVER THE PLACE AND OUR ECONOMY IS IN THE GUTTER ,ONE MAHAMA HAVE GONE THE CEDE WILL TURN AROUND
AMETEFE 8 years ago

YOU FOOLISH GHANAIANS SHOULD SIT ON YOUR FUCKING ASS HOLES AND SAY THERE IS NO WAY MAHAMAH WILL WIN. HE IS GOING TO WIN WITH EASE. BECAUSE THE OPPOSITION PARTIES THEMSEVES ARE NOT IN THE POSITION TO CHECK THE GOVT STILLING PL ...
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YOU FOOLISH GHANAIANS SHOULD SIT ON YOUR FUCKING ASS HOLES AND SAY THERE IS NO WAY MAHAMAH WILL WIN. HE IS GOING TO WIN WITH EASE. BECAUSE THE OPPOSITION PARTIES THEMSEVES ARE NOT IN THE POSITION TO CHECK THE GOVT STILLING PLANS WITH THE EC. THE FACT IS THAT AN ELECTION OFFICER CAN CHANGE THE POLLING RESULTS, AFTER THEY ARE CHECK AND CONFIRMED, IN FAVOR OF THE GOVT. AND THAT IS WHAT HAS BEEN GOING ON FOR THE PAST TWO ELECTIONS. SO WINNING ELECTIONS IS NOT NECESSARILY FROM THE POLLING STATION. THAT CAN BE CHANGED EASILY.
Open your eyes 8 years ago

So where did the dollars used for "pumping" go...hmmmmm? NDC loot-and-share....k3k3.

So where did the dollars used for "pumping" go...hmmmmm? NDC loot-and-share....k3k3.
AMETEFE 8 years ago

YOUR STUPID HE GOAT MAHAMAH HAS LOOTED THE MONEY MONEY MEANT FOR STABILIZATION OF THE CEDI. GHANAIANS ARE FOOLS. AND MAHAMAH WILL DEAL WITH YOU FOOLISH PEOPLE OF GHANA. I WISH HE WINS THE 2016 ELECTIONS AGAIN, SO THAT HE WILL ...
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YOUR STUPID HE GOAT MAHAMAH HAS LOOTED THE MONEY MONEY MEANT FOR STABILIZATION OF THE CEDI. GHANAIANS ARE FOOLS. AND MAHAMAH WILL DEAL WITH YOU FOOLISH PEOPLE OF GHANA. I WISH HE WINS THE 2016 ELECTIONS AGAIN, SO THAT HE WILL CONTINUE HIS LOOTING AND EVENTUALY SENDING GHANA TO HIPC. GHANA IS ALMOST THERE BY THE END OF THIS YEAR.
Alhassan Walla 8 years ago

Yes, I agree with you in toto. The foolish and incorrigible Ghanaians must smell pepper from Mahama and his bunch of drunken sailors until their eyes become cimson red to propel them to think clearly. Until then, I urge Maham ...
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Yes, I agree with you in toto. The foolish and incorrigible Ghanaians must smell pepper from Mahama and his bunch of drunken sailors until their eyes become cimson red to propel them to think clearly. Until then, I urge Mahama to increase whipping them with scorpions and hot-red iron.
ataa ayi 8 years ago

NDC is in deep .....! You will all populate our prisons after 2016 election. Just go and read how another John is sending to beg Buhari not to probe him and his looting mates hahahaha!
I cant wait for 2017.

NDC is in deep .....! You will all populate our prisons after 2016 election. Just go and read how another John is sending to beg Buhari not to probe him and his looting mates hahahaha!
I cant wait for 2017.
United Ghana 8 years ago

I agree. The cedi will continue to suffer until the fundamentals in the economy are right - significant increases in production & exports. Spending money to prop up the cedi is money down the drain.

I agree. The cedi will continue to suffer until the fundamentals in the economy are right - significant increases in production & exports. Spending money to prop up the cedi is money down the drain.
mr amin 8 years ago

Stop predicting doom for the cedi. .n tell them to stop charging import duties in dollers.

Stop predicting doom for the cedi. .n tell them to stop charging import duties in dollers.
inercycl 8 years ago

Least of all not me! The positive side of depreciation is that our exports become cheaper.Do we have any manufacturing sector to boost our exports? No.We are not even boosting the traditional export sector...mainly cocoa.T ...
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Least of all not me! The positive side of depreciation is that our exports become cheaper.Do we have any manufacturing sector to boost our exports? No.We are not even boosting the traditional export sector...mainly cocoa.The agric ministry wants to venture into coconut plantations(?) instead to "quench our thirst" because of the hot weather. No foreign exchange component here.So as our imports exceed our exports ,the dramatic devaluation of the cedi is inevitable. Worst is when government props up the cedi with borrowed dollars.That is the worst kind of policy decision. For how long? The well is dry now.Is government going to borrow more money to shore up the falling cedi? Demand and supply mechanism has even eluded our managers! And of course panic buyers.Not by the business community alone but by politicians as well.In the mid 1990s an amount of 40,000US dollars was purportedly stolen from the offices of the NDC headquarters at kokomlemle.Why the stash of US dollars in the office of the ruling party? So one can deduce they were also "panic" buying US dollars. In 1995 the the cedi sold for around 1200(old cedis) to the dollar.By 2000 it had risen to 9200 ( old cedis) to the dollar before the cedi was decimated later by the NPP administration .So countries like China who devalue their currencies deliberately do so to boost their exports to the disadvantage of those currencies that fall or rise as a result of the D/S mechanism.No sound government borrows money to shore up their currency because the public demands it, and pastors pray for it to happen
KOFI, USA 8 years ago

You can't manage an economy with Propaganda. You lie bad. Hahahaha, DG.

You can't manage an economy with Propaganda. You lie bad. Hahahaha, DG.
KOFI, USA 8 years ago

I know that our NDC only know how to win elections through propaganda but not how to govern. Hehehehe.

I know that our NDC only know how to win elections through propaganda but not how to govern. Hehehehe.
Bell nono 8 years ago

Economic saboteurs are at it again.

Economic saboteurs are at it again.
OWEN,NEW YORK. 8 years ago

So Ghanaians have no eyes to see where N.D.C is dragging them to ?Can't people see that our present leaders(N.D.C) have no clue ? Traders will rush for dollars this coming X'mas and the exchange rate will hit 6 cedis to a dol ...
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So Ghanaians have no eyes to see where N.D.C is dragging them to ?Can't people see that our present leaders(N.D.C) have no clue ? Traders will rush for dollars this coming X'mas and the exchange rate will hit 6 cedis to a dollar.
King Scholy 8 years ago

When the cedi was made to fall artificially, it gave international firms and speculators the chance to but more dollar for hurling because the price was low. Now that government cannot spew out $20 million a day to create mor ...
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When the cedi was made to fall artificially, it gave international firms and speculators the chance to but more dollar for hurling because the price was low. Now that government cannot spew out $20 million a day to create more dollar in the system, 'all' our dollar including the ones we had in our reserves for the artificial stabilising are now left with these hurlers who are now dictating the price for us. I bet it will not get to ghc6 this year but will really keep rising
Landiz 8 years ago

NDC GOVERMENT AND THE BOG NEW THEY DIDN'T HAVE THAT MONEY BUT THEY TRY TO CTEATE PANIC SO THAT THOSE WITH DOLLARS WILL SELL. BUT HAVE FAILED WOEFULLY. THIS IS PURE INCOMPETENCE.

NDC GOVERMENT AND THE BOG NEW THEY DIDN'T HAVE THAT MONEY BUT THEY TRY TO CTEATE PANIC SO THAT THOSE WITH DOLLARS WILL SELL. BUT HAVE FAILED WOEFULLY. THIS IS PURE INCOMPETENCE.

Cedi fall resurfaces

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