Tag: Cedi stability

President Nana Addo Dankwa Akufo-Addo has stated that the appreciation of the cedi against all major trading currencies is a result of deliberate policy interventions introduced by Government over the last few months. According to President Akufo-Addo, “the strengthening of the cedi has not happened by chance, but through the implementation of deliberate policies by Government, in collaboration with the Bank of Ghana.” These measures, he said, include “cedi liquidity tightening measures, resulting in the offloading of forex as a store of value by speculators; the improvement of forex flows from remittances and the mining sector; and the reaching of a staff level agreement with the IMF for a US$3 billion package.” The President made this known on Sunday, December 18, 2022,...