AGAIN YEAR AFTER YEAR YOU WILL GET THE SMAE RESULTS IT IS TIME TO IMPLEMATE NEW ECONOMIC PLAN THE CURRENT VOODO ECONOMIC OF MAHAMA AND NDC HAD FAILED BIG TIME TIME FOR CHANGE OF VANUE
AGAIN YEAR AFTER YEAR YOU WILL GET THE SMAE RESULTS IT IS TIME TO IMPLEMATE NEW ECONOMIC PLAN THE CURRENT VOODO ECONOMIC OF MAHAMA AND NDC HAD FAILED BIG TIME TIME FOR CHANGE OF VANUE
Ghanababa! 10 years ago
People! let us not politicise this! The so called Think tanks, The government and the specilist economists in Ghana are "built inside their village!"
this currency issue is not anything to do with local economic policies, is ... read full comment
People! let us not politicise this! The so called Think tanks, The government and the specilist economists in Ghana are "built inside their village!"
this currency issue is not anything to do with local economic policies, is to do with international pressure!
There has been massive arrest in the US, UK, and Switzerland about some big banks workers working to raise the the 3 mojor international currencies to their advantage.
This has raise the value for the currency in the above mentioned countries and it's trading countries!
in the short term the cedi will loose it valu and other countries who trade heavily on those currencies.
If these so called IMANI, policy think tanks, AFAG and what have we couldint spot this to be the problem then they are not fit to advise on the economy! they have lost their thinking ability because of politics or they are only empty barrels!
People the measure the bank of Ghana is providing is not new on the international community. In facat, this measures are well overdue! We need to understand fx issues before we comment on them! the bank of Ghana was too slow to act on it or perhaps they did not know either! But objective construction will only lead us to success.
Ghanababa! 10 years ago
People you must read my comment!
People you must read my comment!
Kwasi 10 years ago
You would never succeed using discredited communist policies to shore up your currency. The use of interest rate and other instruments to control inflation are always preferable. To in ban/artificially control trade FX is pla ... read full comment
You would never succeed using discredited communist policies to shore up your currency. The use of interest rate and other instruments to control inflation are always preferable. To in ban/artificially control trade FX is plain stupid. Apparently our old Soviet Union trained President has lost It! Even President Putin does not advocate such measures
Ghanababa! 10 years ago
Perhaps you need to read my comment again before you comment! or you did not understand my point?
I did not comment on solution. i commented on what caused the cedi fall! 1. it was caused by pressure on internatonal markets ... read full comment
Perhaps you need to read my comment again before you comment! or you did not understand my point?
I did not comment on solution. i commented on what caused the cedi fall! 1. it was caused by pressure on internatonal markets and 2.The bank of Ghana acted too late. At least you need to read the comment before you start insulting! a typical empty barrel!
Kwasi 10 years ago
First, I did not insult you. "Nonsense" in relation to a policy is no insult, if you think otherwise then you may have to review your comprehension of the English language. In the excerpt of your comment (..below) you state ... read full comment
First, I did not insult you. "Nonsense" in relation to a policy is no insult, if you think otherwise then you may have to review your comprehension of the English language. In the excerpt of your comment (..below) you state that the BOG measures were "overdue" ...to which I say nonsense, because those "measures" are not credible!
"...In facat, this measures are well overdue! We need to understand fx issues before we comment on them! the bank of Ghana was too slow to act on it or perhaps they did not know either!"
JAMES Y 10 years ago
The actions of the government and Bank of Ghana to stop the free dive of the cedi are in the right direction whatever the challenges.
In Britain as in other developed countries which boasts a better economy and is capable ... read full comment
The actions of the government and Bank of Ghana to stop the free dive of the cedi are in the right direction whatever the challenges.
In Britain as in other developed countries which boasts a better economy and is capable to absorb depreciation of its currency, people do not do business in the local markets using currencies other than the country's own. Every potential buyer with foreign currencies first, have to change them through the banks or exchange bureaux. If the store has the facility to exchange the currency, it is done with the rate established by the bank and a commission deducted. In Britain, for example, you can't go to a supermarket holding dollars in your hands and using it to buy items. Similarly, you cannot hand dollars or, any other currency for that matter, to pay your house rent. You first have to change them into the local currency. Conversely, a landlord in Britain does not quote the rent in dollars or euro; for, the exchange rate of these currencies changes daily in relation to sterling.
In Ghana almost every transaction is done now in dollars. Some people argue that once people have been allowed to open dollar accounts at our banks, it is just a natural justice that they are allowed to do their business in dollars. Of course, this can be so but it should be done through the banks. Business men and women can use the facilities in the banks to pay for their imports.
Kwasi 10 years ago
...there several issues here, however the BOG chose to confuse the situation with a set of new regulations that were not well thought through. No one is against ensuring that the cedi is/remain the SOLE legal tender for the e ... read full comment
...there several issues here, however the BOG chose to confuse the situation with a set of new regulations that were not well thought through. No one is against ensuring that the cedi is/remain the SOLE legal tender for the exchange of goods and services on the local market (Ghana). On the other hand, artificially creating a black market for FX (...by your actions), then turn round to tell us you would use security agencies (police, BNI, military?? etc) to police the illegal market that you've brought into being (as a result of your actions) is plain stupid. Our security agencies are stretched enough!!
...And BOG making laws??? I thought it was parliament that made laws ...is laws/prosecution/penalties relating to the "NEW SECTIONS" of this directive written - or they now being formulated under the direction of the AG. Perhaps they are going to use executive orders. Some of these guys act before they think!!
Kwame Angel 10 years ago
No wonder the economy is in such shambles. Ghana is not experiencing volatility; it is simply experiencing a dangerous slide. No economists will call this volatility, unless the Minister does not understand what he is saying.
No wonder the economy is in such shambles. Ghana is not experiencing volatility; it is simply experiencing a dangerous slide. No economists will call this volatility, unless the Minister does not understand what he is saying.
Wayosi 10 years ago
Stupid. This is not the first time controls are introduced and they did not work
Stupid. This is not the first time controls are introduced and they did not work
Victor A. Young 10 years ago
Now is the adoption of "buga-buga" tactics to scare off everyone in the country, esp. importers, traders or businesses. NDC should understand that they don't have any clues to make our economy better; it's all because of elec ... read full comment
Now is the adoption of "buga-buga" tactics to scare off everyone in the country, esp. importers, traders or businesses. NDC should understand that they don't have any clues to make our economy better; it's all because of election fraud! Supreme Court and EC are to blame for our current economic predicaments. The free fall of the Cedi isn't by magic, "juju" or Dwarfs as the NDC seem to tell the world. It's simply because of lack of knowledge and pad economic practices employed by the clueless John Mahama-led NDC govt. It's time for Ghanaians to boot them out of office before they totally destroy our economy.
AGAIN YEAR AFTER YEAR YOU WILL GET THE SMAE RESULTS IT IS TIME TO IMPLEMATE NEW ECONOMIC PLAN THE CURRENT VOODO ECONOMIC OF MAHAMA AND NDC HAD FAILED BIG TIME TIME FOR CHANGE OF VANUE
People! let us not politicise this! The so called Think tanks, The government and the specilist economists in Ghana are "built inside their village!"
this currency issue is not anything to do with local economic policies, is ...
read full comment
People you must read my comment!
You would never succeed using discredited communist policies to shore up your currency. The use of interest rate and other instruments to control inflation are always preferable. To in ban/artificially control trade FX is pla ...
read full comment
Perhaps you need to read my comment again before you comment! or you did not understand my point?
I did not comment on solution. i commented on what caused the cedi fall! 1. it was caused by pressure on internatonal markets ...
read full comment
First, I did not insult you. "Nonsense" in relation to a policy is no insult, if you think otherwise then you may have to review your comprehension of the English language. In the excerpt of your comment (..below) you state ...
read full comment
The actions of the government and Bank of Ghana to stop the free dive of the cedi are in the right direction whatever the challenges.
In Britain as in other developed countries which boasts a better economy and is capable ...
read full comment
...there several issues here, however the BOG chose to confuse the situation with a set of new regulations that were not well thought through. No one is against ensuring that the cedi is/remain the SOLE legal tender for the e ...
read full comment
No wonder the economy is in such shambles. Ghana is not experiencing volatility; it is simply experiencing a dangerous slide. No economists will call this volatility, unless the Minister does not understand what he is saying.
Stupid. This is not the first time controls are introduced and they did not work
Now is the adoption of "buga-buga" tactics to scare off everyone in the country, esp. importers, traders or businesses. NDC should understand that they don't have any clues to make our economy better; it's all because of elec ...
read full comment