Cedi

Government’s projection for the cedi to stabilize in the next few weeks might not be realized.

That’s the view of an economist with the Institute of Statistical Social and Economic Research.

The vice president last week announced that government is expecting the cedi’s free fall to halt in the next few weeks, following the latest interventions by the Bank of Ghana to mop up the excess cedi in circulation.

But Professor Peter Quartey tells Joy Business such monetary interventions often take about three months to yield any results.

The cedi has gone down by a little over 14 percent against the dollar from January to date. You would need GH¢1. 91 to buy a dollar on the forex market as at Monday

Professor Quartey adds that stabilizing the cedi especially during an election year will be quite difficult for government.

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