Fitch warns cedi could be at risk if gold prices fall

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Padi 5 months ago

Ghana has limited gold ore. It needs to focus on tourism and trade.

Ghana has limited gold ore. It needs to focus on tourism and trade.
.mr amin 5 months ago

Fitch shut up those in charge knows what their doing the governor of BoG said that the era of the cedi rampant depreciation is gone if not mahama who stopped the application of the cedi and pegged it at 10 or 12 by now the r ...
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Fitch shut up those in charge knows what their doing the governor of BoG said that the era of the cedi rampant depreciation is gone if not mahama who stopped the application of the cedi and pegged it at 10 or 12 by now the rate would have been between 7 to 8, for the mean time we should have a strong currency to be able to import machinery and input to restructure our economy
Silas 5 months ago

So why don’t mahama and governor allow the dollar to depreciate lower and lower to say 3 cedis

So why don’t mahama and governor allow the dollar to depreciate lower and lower to say 3 cedis
Biscabay 5 months ago

Your useless government could have done that, mumu

Your useless government could have done that, mumu
Abroampa 5 months ago

We have to increase our gold reserves to at least about a 1000 + tons to constantly back up the cedi. Inmagine even non gold mining nations like Germany having over 3000 + tons of the stuff in their volts as iron reserves. We ...
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We have to increase our gold reserves to at least about a 1000 + tons to constantly back up the cedi. Inmagine even non gold mining nations like Germany having over 3000 + tons of the stuff in their volts as iron reserves. We have been mining Gold since the days of Mansa Musa but still don't have a respektable amount of the metal as reserves. Its just a shame.
BEK 5 months ago

We don't need this advice. All these years their so called expert advice led the country to abyss

We don't need this advice. All these years their so called expert advice led the country to abyss
Sammy 5 months ago

Thank you, their jealous

Thank you, their jealous
Wise Man. 5 months ago

Stop the noise because gold is very stable Commodity.

Stop the noise because gold is very stable Commodity.
Pelicles. 5 months ago

This warning from the so-called Fitch is just a mere "If" meaning, it is just a speculation. When was the last time gold price fell ditching world economy into uncontrolled recession?

Anytime these bodies that act like the ...
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This warning from the so-called Fitch is just a mere "If" meaning, it is just a speculation. When was the last time gold price fell ditching world economy into uncontrolled recession?

Anytime these bodies that act like the "final authority" see that a country is trying to move on, they will come up with something to muddy the waters. Ghana will rise up no matter what.
Chris 5 months ago

Establish a salt marketing board as alternative to the non performing timber marketing board.

Establish a salt marketing board as alternative to the non performing timber marketing board.
Kaizer 5 months ago

The government of Ghana as a matter of urgency should fix the Tema oil refinery and start processing part of our oil production for local market. If we are able to produce refined oil locally it will bring price stability and ...
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The government of Ghana as a matter of urgency should fix the Tema oil refinery and start processing part of our oil production for local market. If we are able to produce refined oil locally it will bring price stability and also the government should encourage local production of rice. These two measures will stabilize the cedi.
.mr amin 5 months ago

Govt saye tema oil refinery will come on in November

Govt saye tema oil refinery will come on in November
Kay 5 months ago

It's clear that this guys are not happy that the economy is recovering. They wish we fail but it's not gonna happen. Leave us alone to manage our country.

It's clear that this guys are not happy that the economy is recovering. They wish we fail but it's not gonna happen. Leave us alone to manage our country.
Salim 5 months ago

Doom sayers, Gold prices will not fall, anyway let’s enjoy this whilst it lasts

Doom sayers, Gold prices will not fall, anyway let’s enjoy this whilst it lasts
Poo brew 5 months ago

And what is fitch smoking??? It think gold price can fall just like that?? In fact wee toffee is not good for fitch

And what is fitch smoking??? It think gold price can fall just like that?? In fact wee toffee is not good for fitch
Emmanuel Quaicoe 5 months ago

It is their plan. They plan to drop the gold price if they can't have ready access to it, with the growing resource nationalism in Africa. That is why the US central bank is adopting crypto as a store of reserve. Crypto is i ...
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It is their plan. They plan to drop the gold price if they can't have ready access to it, with the growing resource nationalism in Africa. That is why the US central bank is adopting crypto as a store of reserve. Crypto is intangible, and the price would be infinite with demand. When that happens, buyers would move away from gold as a store of value. In addition, they would dump some of their gold in the market. We would not have control over the gold price. It is simple if they can't have control over our gold, they would destroy the value. I think GCB would have to move quickly to store some crypto in addition to Gold. The gold coin which is local,, willbe worth nothing when this apocalypse unfold.
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They are at it again 5 months ago

Ghanaians should be mindful of these Western rating agencies with their agenda to sabotage African countries' development. Goldman Sachs, if I'm right deliberately played down gold prices in the 90s just so Ghana could lose ...
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Ghanaians should be mindful of these Western rating agencies with their agenda to sabotage African countries' development. Goldman Sachs, if I'm right deliberately played down gold prices in the 90s just so Ghana could lose control of Ashanti Gold by Ghana relinquishing the golden share in the company by which Ghana's interest was put first when they saw South Africa losing gold output so AngloAmerican can get control of Ashanti Gold with the connivance of Ghanaian Ashanti Gold head at the time.
John Mahama should make it clear to these Western Agencies that if they manipulate to have Ghana lose revenue on Ghana's resources or engage in any behaviour to attack Ghana's economy, his government will nationalize any of their companies operating in the country for the benefit of Ghana
Emmanuel Quaicoe 5 months ago

You are right, that was 1987. Ashanti Gold was on top of the world. We acquired the Geita mine in Tanzania, the Nduaprim, Bibiani, and Sigiri mines in Ghana. What did they do? The central Banks in Europe and America just rele ...
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You are right, that was 1987. Ashanti Gold was on top of the world. We acquired the Geita mine in Tanzania, the Nduaprim, Bibiani, and Sigiri mines in Ghana. What did they do? The central Banks in Europe and America just released their gold reserves into the Market to drop the Gold price. The then ignorant Rawlings trusted a Big Head who only drove Ashanti Gold into a herge and subsequently sold us into a meager with Anglo America. What was his reward? A knighthood by the Queen of England.Pity. No wander they are investing in Nigeria
Don Juxx 5 months ago

Duh! but that is exactly what a gold backed currency is. The Cedi rides on gold prices instead of the whims of greedy businessmen.

Duh! but that is exactly what a gold backed currency is. The Cedi rides on gold prices instead of the whims of greedy businessmen.
Ghanaba 5 months ago

When it fall we will keep it

When it fall we will keep it
Twe3 stone 5 months ago

Thanks for making Ghanaian know that, the cedi appreciation has nothing to do with what the NPP propagandists were treading and peddling. Ghana will be stronger than never before even when gold prices decline, our gold produc ...
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Thanks for making Ghanaian know that, the cedi appreciation has nothing to do with what the NPP propagandists were treading and peddling. Ghana will be stronger than never before even when gold prices decline, our gold production has been increased more than 20% based on the new mining area or sites in the pipeline. Secondly Ghana goldboard has changed the game plan
Shai 5 months ago

Fitch, you said nothing.

Fitch, you said nothing.
Blacksoul 5 months ago

Do we have to take advice from our oppressors, no matter what comes our we shall overcome it, yahkaih

Do we have to take advice from our oppressors, no matter what comes our we shall overcome it, yahkaih
Afari 5 months ago

Just ignore them. They have never had our interest at heart. Whenever they see us making progress, they wantbtobthrow a wrench in our direction to hinder our progress. We need to pile up as much gold as our vaults can hold. W ...
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Just ignore them. They have never had our interest at heart. Whenever they see us making progress, they wantbtobthrow a wrench in our direction to hinder our progress. We need to pile up as much gold as our vaults can hold. We will find use for them at the appropriate time just like they have also done in the past. Good work by Ato Forson, BoG management and their teams.
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Fitch warns cedi could be at risk if gold prices fall

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