A Political analyst, Yaw Asani Tanoh has questioned government's efforts to stabilize the cedi.
The cedi is no more the worst-performing currency but among top-performing currencies in Africa, according to reports.
The Ghana cedi continues to gain strength against the US dollar and the euro.
Checks at some forex bureaus indicate that the cedi is going for ghc8 to the dollar as of Monday, 19th December 2022
President Akufo-Addo has attributed "the strengthening of the cedi" to “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.”
However, Asani Tanoh has doubts.
Contributing to a panel discussion on Neat FM's 'Me Man Nti' programme, he said "this is not real".
"This is just surprising . . . looking at the last two months, from October, the rate at which the cedi depreciated not just on daily basis but hours more or less; if you are looking for a typical economic voodooism this is one form of it. We all want the cedi to appreciate but any Economist who will tell you this is real just hoot at him. The reality is there's something fundamentally wrong somewhere . . . you will see the reality after Christmas . . . "
"We are still doing the old things we have been doing so ask yourself, what have we exported or generated that is making the cedi gain that strength?" he quizzed.
Listen to him in the video below
Source: Peacefmonline.com
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Voodoo? W'anim na aguase. Wo tan aban y3 ani saa 3ne 3nema 3dane wo se voodoo. Ade3 ghost 3ny3 voodoo. Manb)fuo de3 nka mo hwehwe ne tim kogyo t). Nyame ama mo anim aguase.
No wonder he has very big mouth, he just opened that big beak and spew ***barred word***, what's wrong with these nonentities...the cedi fell so fast, God of Mercies endowed the managers with economic wisdom to rescue it so fast, hog is talking ***barred word***!
Mr Doomsday political analyst, politics is not your business or profession, you are forcing yourself to be heard. The cedi will appreciate even more if the GOLD for OIL policy is implemented. So tell your NDC people who were sending people to the airport area to buy dollars in high prices so that the government can be blamed to start selling them. It may even be sold for one dollar for Gch 3.50 from February 2023.
Let us be patriotic and wish Ghana well. If Ghana prospers, we all benefit
What about when it depreciated sharply? All these speak, why won't Ghana be like this!
What about when it rose to GHc15.00 in just 2 weeks? Now people like you who don't want the good of Ghana have been exposed badly! SHAME ON YOU!
There are a lot of sick people in this country and this guy is one of them. The currency dropped so rapidly in an unprecedented fashion to the surprise and fear of many citizens. When the same currency has drastically appreciated in almost the same manner it fell, you sit there to talk fooolishly and ignorantly because your evil wish is thwarted. How politics has warped your brains. Kwashia buuullllu!
When the cedi was crushing to its lowest ebb, that wasn't VOODOO downfall but its rapid rise is VOODOO. The truth in Ghana is, we don't implement our laws which is costing us much. As the government has STOPPED using her dollars to import food which we have better comparative advantage, can't you see the demand for the dollar has significantly reduced. That is not an economic product but a voodoo product. Most academics of the country are misleading the country and always spewing out chaff for the gullible populace.
KWASHIA BUUUUUULU