Cedi will continue to depreciate - Alhassan Andani

Read Article

Comments (27)

This article is closed for comments.

Read Comments Comments (27)

mr amin 7 years ago

Shut up, we know that u don't need the success of this govt thus predicting doom, how do u address production if u have a weak currency it makes productions expensive n unaffordable, the hording of dollers by your banks n in ...
read full comment

Shut up, we know that u don't need the success of this govt thus predicting doom, how do u address production if u have a weak currency it makes productions expensive n unaffordable, the hording of dollers by your banks n individuals is the problem n not import. This days imports has reduced if u are a regular visited to the ports. Thieves .
Lori 7 years ago

101

101
De Trainers 7 years ago

As for U searching for what to do; Between age 18-50 yrs; A graduate or secondary school leaver; Retired, Sacked or tired of low wage work; If U are in need of a business with high returns, skill as capital, & low startup cos ...
read full comment

As for U searching for what to do; Between age 18-50 yrs; A graduate or secondary school leaver; Retired, Sacked or tired of low wage work; If U are in need of a business with high returns, skill as capital, & low startup costs, this is why this business is good for U: 1.Make average $30-$50 or more daily 2.Meet high net worth individuals[opportunities in people]3.Grow in IT knowledge 4.Be highly sought after [Money looking for U].5.Employ others! Just get "Mobile Phones & Tablets Repairs : A Complete Guide for Beginners and Professionals" from Amazon marketplaces, Barnes & Noble, eBay etc today & LEARN HOW TO EARN thru this bestselling book! Don't waste 1 WHOLE yr waiting for a (THAT) job !
W.H.O 7 years ago

Tell that cedi man bawumia, they go smile pepper, they think seat back and talk, now they are in power, let see

Tell that cedi man bawumia, they go smile pepper, they think seat back and talk, now they are in power, let see
Armyson 7 years ago

U need free shs

U need free shs
NPPigs 7 years ago

FUCKING MAD-MAD-DOG BAWUMIA

FUCKING MAD-MAD-DOG BAWUMIA
kanta 7 years ago

The performance of the cedi is a reflection of the failed policies of Mahama/NDC and not the new administration of NPP.

If the problem is exports, which I believe is part of but the sole cause, then only a mad person will ...
read full comment

The performance of the cedi is a reflection of the failed policies of Mahama/NDC and not the new administration of NPP.

If the problem is exports, which I believe is part of but the sole cause, then only a mad person will assume the 2 month old administration of NPP should have solved it. You don't increase exports in months to raise adequate foreign exchange to defend the currency.

While Andani's argument so validity, there are many more serious failures from the previous adminitartion which led to this situation.
You can only blame NPP if after a year or two the situation gets worse! By then they would have had enough time to put their own policies to work.
Smart Frempah, UK 7 years ago

Does it need rocket science for people to know what you have explained here Kanta? Look at the contributors before you.....only insults with their half baked English. People should learn how to read and write before resorti ...
read full comment

Does it need rocket science for people to know what you have explained here Kanta? Look at the contributors before you.....only insults with their half baked English. People should learn how to read and write before resorting to unwanted insults. If after almost a year this government is not able to stem the financial ship then we can start attributing them to failure. You can't use two months to solve such a problem. People should know.
kanta 7 years ago

Just follow up to my comment above. Mr. Andani is only partly right. The cedi or any currency for that matter is not determined mainly by export earnings. There is something called Balance of Payments and it has several items ...
read full comment

Just follow up to my comment above. Mr. Andani is only partly right. The cedi or any currency for that matter is not determined mainly by export earnings. There is something called Balance of Payments and it has several items in addition to exports. In those items lies the avenues for credible and astute monetary policies from the central bank's monetary policies.

Government expenditure and tax revenue are some of the items in that mix that require careful management to ensure that the reserves of the country are not drained completely as is the case in Ghana. Depleted reserves will easily expose the cedi to attacks because Ghana then becomes a hard currency beggar with a bowl in hand.

If our central bank has colluded with John Mahama/NDC to practically deplete reserves, borrow excessively (or should I say at unsustainable levels) domestically and internationally, then it is hard to put the blame solely on exports. Andani's explanation is to make the Bank of Ghana in its central bank role look innocent. If the Central Bank infaltion targeting and uncontrolled government borrowing has interest rate at about 25%, then one would find it strange that Andani (a bank manager declaring profits each year) will blame Ghanaian businesses for not exporting.

How do you export more with interest rates at 25% or more? Mr. Andani, the businesses that needed to export more have been crowded out by the excessive borrowing of NDC/Mahama.

Similarly, the implementation of the Mahama/NDC policies by other institutions - e.g. the various ministries are part of the problem!

I started by saying Andani is partly right. Yes, he is right in suggesting that the depreciation of the cedi may continue. That is because the NPP policies to be implemented, will take a while to have their positive impact realised.
yash kugmoor17 7 years ago

You make lots of sense.

You make lots of sense.
mr amin 7 years ago

The cedi since last week is appreciating I believe the Npp will stabilize it because brains are at work. Without a stable currency they can't meet their target. Between 2003 n 2006 the cedi depreciated only 3% that pave way f ...
read full comment

The cedi since last week is appreciating I believe the Npp will stabilize it because brains are at work. Without a stable currency they can't meet their target. Between 2003 n 2006 the cedi depreciated only 3% that pave way for the redenomination by removing 4 zeros which was a great achievement. But the NDC lies n propaganda messed up every thing.
George kusasi 7 years ago

Kanta you don't understand the real meaning of balance of payment. America borrow more than any other country in the world but their currency is stable you think we are small boys here there is no correlation between taxation ...
read full comment

Kanta you don't understand the real meaning of balance of payment. America borrow more than any other country in the world but their currency is stable you think we are small boys here there is no correlation between taxation and depreciation of currency even it exist it is minimal.
SM 7 years ago

Why do people hate the truth..This is simple calculation.If the demand for dollars go high then the cedi will depreciate.Since the NPP take office most Ghanaians think they can import as much as they can but that will always ...
read full comment

Why do people hate the truth..This is simple calculation.If the demand for dollars go high then the cedi will depreciate.Since the NPP take office most Ghanaians think they can import as much as they can but that will always have the cedi downn...
Akoo 7 years ago

We are doing nothing to save the cedi. During mahamas administration the Ashanti's critized him for letting cedi to fall. Why don't we blame Akuffo Adoo for cedi not doing well.

We are doing nothing to save the cedi. During mahamas administration the Ashanti's critized him for letting cedi to fall. Why don't we blame Akuffo Adoo for cedi not doing well.
Smart Frempah, UK 7 years ago

Wow!!! The Ashantis criticized Mahama for letting the cedi fall. So only the Ashantis felt the fall of the cedi? Deep tribal divisions will kill us.

Wow!!! The Ashantis criticized Mahama for letting the cedi fall. So only the Ashantis felt the fall of the cedi? Deep tribal divisions will kill us.
Nkaw 7 years ago

Stupid full, who are tribalistic than Ashanti's? Becos JM was a norther you guys wanted him to fail but he didn't now ur dwaf is in government let's see how he gets on.

Stupid full, who are tribalistic than Ashanti's? Becos JM was a norther you guys wanted him to fail but he didn't now ur dwaf is in government let's see how he gets on.
nimdee2k 7 years ago

Corruption = Cedi Depreciation. Ask Zimbabwe and the can share stories.

Corruption = Cedi Depreciation. Ask Zimbabwe and the can share stories.
nimdee2k 7 years ago

Open Market Economy - Ghana Lacks it!!!
The formula for GDP is: GDP = C + I + G + (Ex - Im), where “C” equals spending by consumers, “I” equals investment by businesses, “G” equals government spending and “(Ex ...
read full comment

Open Market Economy - Ghana Lacks it!!!
The formula for GDP is: GDP = C + I + G + (Ex - Im), where “C” equals spending by consumers, “I” equals investment by businesses, “G” equals government spending and “(Ex - Im)” equals net exports, that is, the value of exports minus imports. Net exports may be negative.
We do not have economists who understand how open market works. Embezzlement is not a factor in the GDP formula. Corruption contributes to currency devaluation. Ask Zimbabwe and they will explain it to you.
Ashanti's are fools 7 years ago

Ashanti's are fools

Ashanti's are fools
Ati Samuel 7 years ago

NDC gurus are sending their stolen monies to the Arab countries such as Iran and UAE very soon their anus Will Open even Akua Donkor can possess $30,000 as physical cash in her bag and complained that it has been stolen

NDC gurus are sending their stolen monies to the Arab countries such as Iran and UAE very soon their anus Will Open even Akua Donkor can possess $30,000 as physical cash in her bag and complained that it has been stolen
Mr Bond 7 years ago

It seem Nana Ado want Mahama criminal bank governor to wrecker the party by pulling all criminal stealing and corrupt deals not approve by parliament.It is true that Nana Ado is a weak president.PPP prepare for power because ...
read full comment

It seem Nana Ado want Mahama criminal bank governor to wrecker the party by pulling all criminal stealing and corrupt deals not approve by parliament.It is true that Nana Ado is a weak president.PPP prepare for power because we know NDC are thieves and we don't need NDC thieves come back to power to wreck our country into disaster.
nimdee2k 7 years ago

I concur

I concur
Kofi 7 years ago

Economy's problem is what your Friend Mahama bequeathed us and the millions of dollars stolen from Ghana. Rome was not built in a day, the same happened when Kuffour took over nd you came to enjoy benefots of new found oil an ...
read full comment

Economy's problem is what your Friend Mahama bequeathed us and the millions of dollars stolen from Ghana. Rome was not built in a day, the same happened when Kuffour took over nd you came to enjoy benefots of new found oil and did nothing as a government NDC. Once oil prices plummeted NDC was exposed. Oil Industry does not produce lots of jobs so country has to be productive in other sectors to provide employment for it's people.
Ben 7 years ago

Massa you are partly right but forgot to mention these Dumsor, over spending in 2012/ 2016 elections and corruption by NDC government. How many productive businesses went down? Be objective when analysing our problems.

Massa you are partly right but forgot to mention these Dumsor, over spending in 2012/ 2016 elections and corruption by NDC government. How many productive businesses went down? Be objective when analysing our problems.
Zargon 7 years ago

What do u think will happen? They will be exporting more and guess what?? They will need to exchange the cedi for dollars

What do u think will happen? They will be exporting more and guess what?? They will need to exchange the cedi for dollars
Coach 7 years ago

The economy is being manage by useless bunch of incompetent fools who do not know what they are about. When this same situation happened during the inception of the Mills government in 2009 after the NPP had left the ...
read full comment

The economy is being manage by useless bunch of incompetent fools who do not know what they are about. When this same situation happened during the inception of the Mills government in 2009 after the NPP had left the worse economy in history , these fools made political gain out of it but they were surprised the NDC was able to solve it quickly. Now that they are in power and the are suppose to demonstrate their competency they are disgracefully running after people's cars leaving the Cedi to its own fate.
Bdanso 7 years ago

Talking about economics without knowing it is funny. Mills government had huge cocoa production high prices of gold oil which was above 100 dolats . The country could not sustain cocoa production food production too suffered ...
read full comment

Talking about economics without knowing it is funny. Mills government had huge cocoa production high prices of gold oil which was above 100 dolats . The country could not sustain cocoa production food production too suffered oil ptice dropped below 50 Dollars and dumsor due to poor planning . if we depend only on commodities as a country we are doomed. Dumsor killed the already fragile manufacturing aector corruption fancy projects like Komenda Bus Branding with no benefit to Ghana . Even tomatoes and onions we import from Burkina Faso and Niger. Agriculture manufacturing coupled with existing export earners can save us.

Cedi will continue to depreciate - Alhassan Andani

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 (27)

Read Comments Comments (27)