Business News of Monday, 10 October 2022
Source: www.ghanaweb.com
What Gabby said about the cedi’s depreciation in 2015
Gabby Asare Otchere-Darko, a leading member of the New Patriotic Party
The depreciation of the Ghana cedi is among the leading causes of increased economic hardships in Ghana today. As of October 10, 2022, the currency is selling at 11 to $1 dollar at some forex bureaus in the country. In June 2015, a leading member of the New Patriotic party, Gabby Asare Otchere-Darko wrote on his Twitter page, “The cedi touched a record high of GHS/USD 4.45 this week”. While some social media users have reacted in shock to the current state of the local currency in sharp contrast to what it was in 2015, others have taken a swipe at the NPP government for leading a “failing economy”. According to the latest Bloomberg and World Bank report, the Ghana Cedi ranks as the worst-performing currency in Africa. The World Bank report noted that: "The worst performing currencies in the region since the beginning of the year include those of Ghana (with a depreciation of 60 percent), South Sudan (50.8 percent), Sudan (28.6 percent), Malawi (25.4 percent), and CFA Franc (13.3 percent)."
The cedi touched a record high of GHS/USD 4.45 this week.— Gabby Otchere-Darko (@GabbyDarko) June 12, 2015
You were running ur mouth as if you had an expertise in running an economy or administration. https://t.co/jwEfS5Thmi— KWAME ???????? (@KwameNanaba) October 10, 2022
Wicked and Corrupt government.. you see how tables have turned around .. You see how you’re making Ghana look like rubbish in the sight of others .. Kill us all cos we’re tired ????????♂️????????♂️.. What did Ghanaians do to you and your president ????????♂️.. Can’t you see you’re killing us ???? ???? https://t.co/iwyJJlVYRH— big_Shedoo (@niimants39) October 10, 2022
It is almost tripling https://t.co/HMHUmuqkXS— TEN HAAG’S ANTONY???????????????? (@MeatpieWura) October 10, 2022
It just touched ghc 11.23 https://t.co/4kOACjKv2I— ឵឵឵ ឵឵឵ Sekunde???????????????? (@Kofi_Phanteboi) October 10, 2022
The cedi touched a record high of GHS/USD 11 this week https://t.co/NcWF6LAr8k— Kwame Kyei Baffour (@kwamekyeibafour) October 10, 2022 Watch the latest episode of BizTech below:
