Ghana in Focus Specal: Currency Woes in Ghana ,Understanding the Cedi' Depreciation and Path Forward

Discover the true culprits behind the Ghanaian cedi's downward spiral in a candid discussion that goes beyond the usual suspects of the COVID-19 pandemic and the Russia-Ukraine conflict.

I'm Kwame, your guide through the complex economic landscape of Ghana, bringing you a narrative that's not just about the numbers but the lives they reflect.

We'll navigate through the government's policy effects over the last five years, highlighting how periods of sharp fluctuation have impacted everything from taxi fares to school fees, and what policy shifts could potentially anchor the cedi's value.

As we peel back the layers of Ghana's fiscal challenges, you'll learn how the cessation of the IMF program and the government's borrowing habits sparked a domino effect, culminating in the cedi's significant depreciation.

The story doesn't end at the currency exchange rate; we explore the real-life consequences, such as the dollarization pressures that have citizens scrambling for dollars for major expenses.

Join me in dissecting the economic mismanagement and untangling the web of multinational companies' profit retention, as we propose robust solutions to keep profits within Ghana's borders, reinforcing its economy and the cedi's stability.

Sources:

USDGHS US Dollar Ghanaian Cedi - Currency Exchange Rate Live Price Chart (tradingeconomics.com)

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