Why still wasting billions to prop up a currency that has no value beyond its boundary? You have said that import exceeds export so try and get the export in shape. Short term solution is like putting a plaster over a wound.
Why still wasting billions to prop up a currency that has no value beyond its boundary? You have said that import exceeds export so try and get the export in shape. Short term solution is like putting a plaster over a wound.
BlindMan 10 years ago
Ghana can not take CREDIT of the Cedi rise this way; it's a political suicide in allowing the Cedi to adjust to its own value, however, that is the right approach in boosting Ghana's economy. We can not borrow to pay our debt ... read full comment
Ghana can not take CREDIT of the Cedi rise this way; it's a political suicide in allowing the Cedi to adjust to its own value, however, that is the right approach in boosting Ghana's economy. We can not borrow to pay our debts. The SUSU approach would drown Ghana for 'life', in other ways, we are passing our failures to the unborn.
Joe 10 years ago
Kofi you are 100% right.
Kofi you are 100% right.
vci 10 years ago
The Eurobond will go to paying off existing maturing loans and hence net effect is nil
The Eurobond will go to paying off existing maturing loans and hence net effect is nil
OWEN,NEW YORK. 10 years ago
EVERYTHING GHANA GOVERNMENT THINK OF IS BORROWING.THIS IS LIKE ROBBING PETER TO PAY PAUL GOV'T .
EVERYTHING GHANA GOVERNMENT THINK OF IS BORROWING.THIS IS LIKE ROBBING PETER TO PAY PAUL GOV'T .
Maxwell 10 years ago
Day dreaming as usual.
Day dreaming as usual.
OMG Ghana 10 years ago
Remember the 20 Million USD cedi hedging 4 weeks ago when I arrived in Ghana from the USA, what happened, the Cedi is sliding again. Voodoo Economics based on borrowing is not sustainable. Every country in the world includin ... read full comment
Remember the 20 Million USD cedi hedging 4 weeks ago when I arrived in Ghana from the USA, what happened, the Cedi is sliding again. Voodoo Economics based on borrowing is not sustainable. Every country in the world including Bangladesh is developing except for Ghana, Why
Kwaku London 10 years ago
The last paragraph in this article holds the key to the problems of the depreciating Cedi.
I will also add the folowwing:
1. Set-up Boards for Key products eg Palm Oil, Banana, Sugar (Cane production), Poultry, etc etc ... read full comment
The last paragraph in this article holds the key to the problems of the depreciating Cedi.
I will also add the folowwing:
1. Set-up Boards for Key products eg Palm Oil, Banana, Sugar (Cane production), Poultry, etc etc and man these boards with competent businessmen to run them.
2. Pay special attention to Exporters. The Govt. should do whatever it takes to incentivise them.
3. There should be monthly production of statistics to draw attento our exports vis a vis our imports.
4. Impors should be controlled where same product is available in the country. Importation of Toothpics is an example.
Charles Frimpong 10 years ago
Very good and fruitfull comment.
Very good and fruitfull comment.
Thoughtful 10 years ago
Last paragraph should be find products that are economically viable for export. Exports bring in foreign exchnge
Last paragraph should be find products that are economically viable for export. Exports bring in foreign exchnge
diplomengineer ebenezer sackey 10 years ago
the economy and the rise of the Dollar against the cedi increases the Price of imported items in the market.5kg of Rice cost 32 cedis.a bag of Rice was costing 80 cedis (50kg) for some years in the ghanaian market,which is f ... read full comment
the economy and the rise of the Dollar against the cedi increases the Price of imported items in the market.5kg of Rice cost 32 cedis.a bag of Rice was costing 80 cedis (50kg) for some years in the ghanaian market,which is from the rises of the Dollar.a cost of 1 Dollar to 1.20 cedis will cost less.80 cedis to 50kg of Rice ,while 5kg of Rice cost 8 cedis.32cedis minus 8 cedis =24 cedis more.
mensa 10 years ago
UNTILL BILLIONS OF US DOLLARS GET INTO GHANA? AND WHAT SHALL WE DO WITH THE WORTHLESS CEDE UNTIL THEN?CLEAN OUR ASS WITH IT? WHAT A BULL-CRAP STROY WE ARE BEING TOLD HERE FALKS
UNTILL BILLIONS OF US DOLLARS GET INTO GHANA? AND WHAT SHALL WE DO WITH THE WORTHLESS CEDE UNTIL THEN?CLEAN OUR ASS WITH IT? WHAT A BULL-CRAP STROY WE ARE BEING TOLD HERE FALKS
Economy built on NDC loans!
Third world or tenth world
Why still wasting billions to prop up a currency that has no value beyond its boundary? You have said that import exceeds export so try and get the export in shape. Short term solution is like putting a plaster over a wound.
Ghana can not take CREDIT of the Cedi rise this way; it's a political suicide in allowing the Cedi to adjust to its own value, however, that is the right approach in boosting Ghana's economy. We can not borrow to pay our debt ...
read full comment
Kofi you are 100% right.
The Eurobond will go to paying off existing maturing loans and hence net effect is nil
EVERYTHING GHANA GOVERNMENT THINK OF IS BORROWING.THIS IS LIKE ROBBING PETER TO PAY PAUL GOV'T .
Day dreaming as usual.
Remember the 20 Million USD cedi hedging 4 weeks ago when I arrived in Ghana from the USA, what happened, the Cedi is sliding again. Voodoo Economics based on borrowing is not sustainable. Every country in the world includin ...
read full comment
The last paragraph in this article holds the key to the problems of the depreciating Cedi.
I will also add the folowwing:
1. Set-up Boards for Key products eg Palm Oil, Banana, Sugar (Cane production), Poultry, etc etc ...
read full comment
Very good and fruitfull comment.
Last paragraph should be find products that are economically viable for export. Exports bring in foreign exchnge
the economy and the rise of the Dollar against the cedi increases the Price of imported items in the market.5kg of Rice cost 32 cedis.a bag of Rice was costing 80 cedis (50kg) for some years in the ghanaian market,which is f ...
read full comment
UNTILL BILLIONS OF US DOLLARS GET INTO GHANA? AND WHAT SHALL WE DO WITH THE WORTHLESS CEDE UNTIL THEN?CLEAN OUR ASS WITH IT? WHAT A BULL-CRAP STROY WE ARE BEING TOLD HERE FALKS