Monetary measures alone can’t stabilize cedi – Analyst

A Senior Economic Analyst at Databank, Mr Courage Kingsley Martey, has said that short-term measures initiated to stabilize the cedi, are not enough.

More he says needed to be done to guarantee long-term stability.

He feared the cedi might depreciate again in the first half of 2016; as a result balance of payment deficit and election uncertainty.

He’s, therefore, underscored the need for managers of the economy to focus on increasing exports.

“The expectation was that the cedi would end the year between GH? 3.9 and GH? 4.3 maximum to the dollar.

“However, given the recent developments on the market and the expected inflows, for the second half of the year, we will lean towards the lower band of GH¢ 3.9 to a dollar by the end of the year.”