₦airaland Forum

Weakening currency worries Ghanaians.
analysis
By Simon Allison
A cool $114 million has just found its way into Ghana's struggling bank balance, courtesy of a new loan package with the International Monetary Fund. It's not huge money in the grand scheme of things, but alongside the government's own reforms - and with more IMF funds on the way - it could be just enough to rescue Ghana's free-falling cedi and stabilise its wobbly economy.
On Tuesday, the Bank of Ghana's strained reserves received a boost, to the tune of $114 million, from the International Monetary Fund. It's a tidy sum designed to shore up the rickety central bank and stabilise Ghana's currency, the cedi, which has lost nearly 20% of its value against the dollar since the beginning of this year.
This swift depreciation is no anomaly, but the acceleration of a dangerous trend. Over the course of 2014, the currency lost about a third of its value, despite government efforts to halt the decline, and threatened the stability of the economy as a whole - which had been one of Africa's most promising.
Tuesday's deposit is just the first tranche of an extended loan facility from the IMF that will eventually be worth $918...

U leave naira way don finish day go judge cedi that's hundred times higher than naira

jascon1:
U leave naira way don finish day go judge cedi that's hundred times higher than naira

please can you explain how cedi is hundred times better than Naira.

Some years ago they too were shouting change

That is the effect of change....I wish them luck

richidinho:
Some years ago they too were shouting change

That is the effect of change....I wish them luck

correct, let's Buhari doesn't do to Nigeria what mahama did to Ghana.

Like seriously..Ghana keep ur CD abi na plate""we got lot to tackle in naija that enough for me than spying out unnessarily.