Cedi Will Relapse By December- Vladimir Antwi Danso
Senior Fellow of the Institute of Economic Affairs (IEA), Dr. Vladimir Antwi Danso, has stated that the cedi’s recent gains are not hinged on sustainable measures.
He has therefore predicted a fall in the cedi by the end of the year.
According to him, the only sustainable way to fasten the cedi’s strength is to turn the Ghanaian economy into an export one.
“We must try and be an export economy. That is the only way you stabilise your currency. That’s the only way you make the other currencies lower or stronger. What we are saying is that we are not stabilising permanently.”
He is therefore confident that the currency is not yet out of the woods.
“We’ll relapse. By December I’m sure that we will relapse and I’m saying this from a technical point of view and I’m not doing politics with it. It’s not yet hurray for the cedi kind of appreciation.”
The cedi since the beginning of this month has shown signs of improvement, appreciating at 24.1%.
The Bank of Ghana and the Finance Ministry have both stated that the cedi gains are sustainable, attributing it to disciplined and prudent fiscal management.
A publication by Africa Policy Lens on Wednesday attributed the gains to both the new government’s fiscal consolidation measures and the debt restructuring initiated in 2023–2024 by the previous government.
Currently, the cedi is trading around GHC10 to a dollar.
Source: Hajara Fuseini – Opemsuo 104.7
