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Nairaland Forum / Nairaland / General / Politics / Foreign Affairs / Ghana Looks To IMF For Salvation As Cedi Falls By 40% (24607 Views)
Angola, Hit By Collapse Of Oil Prices, Seeks IMF Aid / Ghana Finally Runs To IMF For Financial Aid As Economy Crumbles - BBC / Ghana's Cedi Is Now Almost Equivalent To The Dollar! (2) (3) (4)
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Ghana Looks To IMF For Salvation As Cedi Falls By 40% by postmann: 10:13pm On Nov 03, 2014 |
Ghanaian cedi now one of the world’s worst- performing currencies; country looks to IMF for salvation . Ghana is hoping for financial aid from the International Monetary Fund (IMF) to help strengthen its currency after the cedi fell 40% against the US dollar, making it one of the world’s worst-performing currencies. http://www.newsexpressngr.com/news/detail.php?news=6893 2 Likes 1 Share
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Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by seunlayi(m): 10:16pm On Nov 03, 2014 |
notwithstanding, they still enjoy a steady economy 4 Likes 1 Share |
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by eunisam: 10:17pm On Nov 03, 2014 |
if Ghana will meet up with the IMF conditionalities. Anyway may God help Africa. 2 Likes |
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by bercarray(m): 10:30pm On Nov 03, 2014 |
that is,nigeria's money is still better than theirs,so wit dat,are we better than them? If no,then ds information or ds thread shd i say,is useless 7 Likes |
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by postmann: 10:51pm On Nov 03, 2014 |
seunlayi:having the world's worst currency, applying to IMF for an economic bailout.....how does this transcend into a steady economy? This is the second time in 5 years the cointry is running to IMF. READ MAN, READ. 86 Likes 1 Share |
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by Nobody: 11:12pm On Nov 03, 2014 |
The mistake ghana made is to think that following IMF scripts would lead to economic prosperity. They should have asked IBB. 33 Likes 1 Share |
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by Nobody: 11:20pm On Nov 03, 2014 |
seunlayi:For how long will that last? My friend you guys better start fixing your economy and fire whoever is your Central Bank Governor. Its just a brotherly advice from a concerned Nigerian 22 Likes 1 Share |
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by Nobody: 11:20pm On Nov 03, 2014 |
postmann:Some people don't understand these things 9 Likes |
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by nigerianvenom(m): 11:22pm On Nov 03, 2014 |
seunlayi: pls explain how 6 Likes |
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by iamord(m): 11:24pm On Nov 03, 2014 |
dcaliph: Seriously.. U have little idea or no idea on what is going on |
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by Kemy11(m): 11:30pm On Nov 03, 2014 |
May. B we should loan madam Okonjo to them 17 Likes |
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by Nobody: 11:31pm On Nov 03, 2014 |
iamord:Do educate me. |
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by iamord(m): 11:36pm On Nov 03, 2014 |
Kemy11: U need her more 1 Like |
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by iamord(m): 11:37pm On Nov 03, 2014 |
dcaliph: I don't have the strength to be typing over and over again..u can Check my post on www.nairaland.com/1966823/p-downgrades-ghana-cedi-junk 1 Like |
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by Nobody: 12:03am On Nov 04, 2014 |
iamord: You made good points and i agree with most of them. I still think that ghana taking IMF advises is one of the major problems. IMF agender is anti-Africa, they always encourage borrow, remove subsidy and they roll out deceiptive statistic. Thats what they did to Nigeria during IBB era. Running to IMF again for help would not help. Ghana should solve the problem internally. 7 Likes |
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by osile2012: 12:18am On Nov 04, 2014 |
dcaliph: Thats their only option for now. It can only get worse if they dont get the bailout which will afford them some time to plan on how to fix things. |
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by smithsammy(m): 5:47am On Nov 04, 2014 |
seunlayi:so you can still translate that to a better and steady economy? You need to take some nap I guess. 4 Likes |
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by Nobody: 6:33am On Nov 04, 2014 |
IMF finances is what I call the 'Devil's Own Loan'. Ghana may never shake it off in decades to come. 7 Likes |
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by goldfish80(m): 7:06am On Nov 04, 2014 |
Instead of taking the high road to IMF, Ghana would be better off getting in touch with Emeka Okonkwo (E money) or Davido's father for the $600 million loan. 14 Likes |
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by ichidodo: 7:09am On Nov 04, 2014 |
Ghana should save themselves the trouble and devalue their currency like Japan for instance... 6 Likes |
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by iamord(m): 7:32am On Nov 04, 2014 |
blizard44: Oh yes! Ghana will. Things are stabilizing compared to the year beginning.. To bad its easier to see the negatives |
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by iamord(m): 8:06am On Nov 04, 2014 |
dcaliph: Well one thing is that at the moment what ever the government is doing is in the best interest of saving the country. And imf is not exempted to africa alone. Greece , iceland , ireland , Portugal all applied for a bail out. And portugal made a clean exit from the program when they got up on their feet.. So we should not always get freaked out at the sound of “IMF” ..rather than always look at western powers as always trying to destabilize our economies .why don't we look within to see how we are getting it wrong .. Did imf tell u to steal?.. Not to build good institution?.. Not to plan So we are the real imf.. Our own enemies.. Asides that things are expected to stable as soon as the gas plant comes up.. Of which its ready for commissioning this month 15 Likes 1 Share |
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by iamord(m): 8:10am On Nov 04, 2014 |
ichidodo: The problem is not the re domination ooo 1 Like |
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by Lilimax(f): 8:10am On Nov 04, 2014 |
***I was here*** |
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by Nobody: 8:13am On Nov 04, 2014 |
Arghhhhhhh!!!! Nigerian juju is working!!! 2 Likes |
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by sakaguchi(m): 8:47am On Nov 04, 2014 |
R |
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by Nobody: 9:00am On Nov 04, 2014 |
masonkz:hehehehhe... no be small thing! 2 Likes |
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by ichidodo: 9:01am On Nov 04, 2014 |
iamord: iamord:Devaluing the currency will help make exports cheaper thereby increasing foriegn demand inaddition to boosting local-production,employment and house-hold incomes.Even in a trade-by-barter system,the economy is stronger when exports exceed imports how much less a cedis based system.But with the re-domination or 'artificially' pegging the currency close to the dollar without requisite social,financial and infrastructural platforms to buff the currency as unscrupulous hedgefunds obtain that 'artifcial leverage' to pursue dollars,exports have become expensive with reduced foriegn demand and local production..There is trouble when house-hold incomes are reduced significantly with goods and services relatively expensive and businnesses suffering losses as a result of reduced patronage.Not devaluing the currency at this stage is like blowing up a ballon watchin when it will go bust...Ghana's ballon is due for an economic bust... 9 Likes 1 Share |
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by egift(m): 9:02am On Nov 04, 2014 |
1 Ghana Cedi = 52 Naira 1 Like 2 Shares |
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by Nobody: 9:05am On Nov 04, 2014 |
seunlayi: Steady economy? For where |
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by badmrkt(m): 9:12am On Nov 04, 2014 |
egift:bros stick to politics and leave Economics for the wise ones... 16 Likes |
Re: Ghana Looks To IMF For Salvation As Cedi Falls By 40% by egift(m): 9:18am On Nov 04, 2014 |
badmrkt: My guy, what is your problem that I posted the current Exchange rate? Must you fight over everything? Up One Nigeria - all the way! 2 Likes 1 Share |
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