GhPage News Ghana cedi will be stabilized in the next few weeks-Finance Minister

Ghana cedi will be stabilized in the next few weeks-Finance Minister

- Advertisement -

The Minister of Finance, Ken Ofori-Attah has assured the general public that the Ghana cedi will be stabilized in the next few weeks.

The Minister stated that the government is working on the depreciation of the cedi to boost the economy and save failing businesses.

ALSO READ: Omanhene blasts Paul Adom Otchere over Manasseh’s expose’

Things You Need To Expect From The 2018 Budget
Ken Ofori-Attah

“We have about $300 million coming in from COCOBOD and another $600 million also from COCOBOD in about a month or so.

We have officially launched our Eurobond which will be $3 billion and that should close within the next couple of weeks.

Large inflows of foreign exchange are expected in the country soon to help curb the situation”, the Minister stated.

The government has received massive backlash over the depreciation of the cedi as currently, it has depreciated to 5.7 per dollar.

This has caused a high cost of living in the country and affecting the smooth running of many businesses.

ALSO READ: It was bound to happen -Prophet Oduro talks about the Ethiopian plane crash

Moreover, the Finance Minister is of the view that the country should be able to structurally balance imports and exports as it is the main cause of the depreciation of the cedi.

According to him if Ghana is solely dependent on imports, the cedi will continue to face depreciation no matter the government in power.

However, Ken Ofori-Attah assured Ghanaians that government is working in stabilizing the cedi and the economy.

“With the type of capital that we are expecting to get in a few weeks, we really expect a reversal and stability” he added.

Get Ghana Latest News in your inbox each morning.


Please enter your comment!
Please enter your name here


Tuesday, June 2, 2020
few clouds
25 ° C
25 °
25 °
88 %
20 %
27 °
30 °
30 °
30 °
30 °

Most Read

Kennedy Agyapong’s abandoned mansion in his village surfaces on social media (VIDEO)

Maverick politician Hon. Kennedy Agyapong has time without number stated that he is filthy rich and has houses in almost every part...

The secret wife of a Roman Father storms his funeral grounds with his 9 children

A Roman father in Jamasi-Yonso in the Ashanti Region of Ghana has made history but sadly he did not live to witness the ‘fruit...

I don’t enjoy being in court – Sandra Ankobiah

Ghanaian lawyer Sandra Ankobiah has over the years been tagged as a slay queen whose expensive lifestyle is funded by big men...

Kennedy Agyapong issues warning to Cecilia Marfo

Politician and businessman Kennedy Agyapong has warned gospel musician turned Evangelist Cecilia Marfo to desist from her evil dealings before he jumps...