Home   >   Business   >   Business News   >   201809





Economic Fundamentals Are Stronger Today - Fiifi Kwetey   
 
  << Prev  |  Next >>
 
14-Sep-2018  
Comments ( 10 )     Email    Print
       
 
 
 
 
 
Related Stories
 
Former Deputy Finance Minister under the late President Mills and Member of Parliament for Ketu South Constituency has rejected criticisms that the economic fundamentals are weak which resulted in a marginal depreciation of the cedi against the dollar.

Contributing at a cedi forum organized by Accra based Joy Fm at the University of Ghana, Fiifi Kwetey argued that “the economic fundamentals are strong today even though the cedi is facing some pressures”.

The outspoken MP stated that similar fundamentals existed under the Government of the late President Mills and that the cedi suffered heavy depreciation in 2013 and 2014.

The former Minister’s comments is in sharp contrast to criticisms which suggest that the cedi’s depreciation is blamable on weak economic fundamentals. 

He argued that it is possible to have strong economic fundamentals while a currency is still depreciating. His comments shocked many of the audience who were expecting a fierce criticism of the NPP’s economic management.

Dr. Eric Osei Assibey, a lecturer at the Economics department of the University of Ghana, on his part argued that “depreciation of a currency is not a problem. It is the rate of depreciation which has to be looked at”.

The economics lecturer submitted the cedi is doing relatively well. This view was endorsed by Dr. Priscilla Twumasi Baffour, a macro-economic lecturer at the University of Ghana.
 
 
Source: Peacefmonline.com
 
 

Comments ( 10 ): Post Your Comments >>

 
 
 
Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.
 
 
COMMENTS




Name: KB
Many people talking and commenting on dollar issues when they have no idea of how a dollar note looks like. People are talking so everybody jumps in. #talkative Ghanaians
 
Name: kkkkk
please oo please tell me does this assertion still stand or it has been withdrawn in the face of the prevailing situation? "if your fundamentals are weak, the exchange rate would expose you" by DR bawumiah
 
Name: RUBY MAHAMA
Charles Wayo, it was ghc1.20 to $1.00 in 2009 before ndc and ndc left it miserably ghc4.5 -$1.00 so na who cause am? you should know the shocks in the poor management of the fundamentals the ndc left are causing this hardship, but Insha Allah all will be well! Ghana is in Good hands ! Thank God for the NPP,if ndc were in power the cedi would have been free falling and the fundamentals collapsed. Ghana would have been in severe hardship to economic depression. The ndc have no shame also and talking! Fiifi Kwettey has now reason that you can't hide the truth and for him to be a good economist he needs to come out with the truth to gain respect than political talks always which doesn't move a man forward. Going forward and growing he needs to build a good name than being in his ancient time of lies !
 
Name: Charles Wayo
Master all what we know is 5 Cedis to 1 Dollar. The cost of living is very high these days period. It was 4.2 Cedis to a Dollar, a depreciation of 16%. and you say what?
 
Name: kwame nfodjo
This fiifi man is afraid of prosecution i hardly hear him speak this days, and even if he does he is compelled to support the elephant in order for him not to face martin amidu. wonders shall never end that is why i never and will never respect any Ghanaian politician.
 
Name: chris
The first time fifii Kwatey has been objective. really i recommend him for being truthful if all Ghanaian will not argue on political line i think Ghana will be a place to be. let do away politics and solve issues as Ghanaians will one common aim. Mr Fifii keep it up.
 
Name: Fiifi, Moree
Do we as a country know who really are buying the dollars especially from the Forex Bureaus? In other jurisdictions,you can't buy foreign currency without showing an accepted ID like passport and showing why you need the currency. I suspect (and please this is mere suspicion) that corruption has a role to play in this cedi depreciation whereby people who have stolen a lot of the nation's wealth are finding ways to send them out and the only way they can do that is through the use of foreign currency, thereby increasing the demand for those currencies which then exceeds supply, forcing the exchange rate (the price) to go up. We here so, so and so has bought this property abroad with a short time. Do they use cedi to buy, hell no.
 
Name: Sam
Dr.Bawumia still stands tall. amen.
 
Name: mokasa
Ministry of trade, please stop the importation of rice and sugar into this country, no serious country can expect a strong currency when these basic goods are imported.
 
Name: Kwame
Very true, but how do we educate the locals who goes to the forex and meet the real value. They claim, the cedi is not well. The economic team and the communication team of the government should help address this information gap between these two parties (Expert view vs real users on the market)
 



Post A Comment

Name:
   
Comment: