• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Economy

Cedi irreversibly being destroyed

3 years ago
in Economy, Features, highlights, Home, home-news, latest News, Markets
1 min read
0 0
0
59
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Cedi irreversibly being destroyed

The local currency (cedi) under the present adverse macroeconomic conditions, is fast losing its value to the American dollar.

Given the rate at which the cedi is depreciating against the greenback, Executive Director of the Institute for Economic Affairs (IEA), Dr John Kwakye, in a tweet on Wednesday, said the cedi is “irretrievably being destroyed”.

The economist is baffled at why managers of the Ghanaian economy cannot come up with a plan to halt the depreciation of the cedi.

“Sadly the cedi is being irretrievably destroyed. And all we do is look on. Why can’t our economic managers come up with a plan to arrest the situation?,” he tweeted.

In his view, the country’s two strongest political parties are the cause of Ghana’s underdevelopment.

“NPP-NDC political capture is the bane of our progress as a nation. We need a leader who is willing and capable of pursuing the national interest without being shackled by political influence,” he stated.

RelatedPosts

Cyber Security Authority Warns of Rising Google Maps Brand Impersonation Scams

Fuel Prices to Rise From Monday Despite Fall in Global Oil Prices

Alcaraz Dominates to Reach Fourth Round at US Open; Rybakina Advances as Raducanu Falls

Dr Kwakye concluded his tweet stating that the country should not expect manna to fall from heaven to address its challenges, adding “we should solve our problems ourselves”.

The woes of the local currency continues unabated as the local currency traded at GHS 13.75 to the dollar on the forex market as of Thursday, October 20, 2022.

Per reports, the year-to-date depreciation of the cedi to the dollar is well above 45%.

Tags: cediCedi irreversibly being destroyeddollarIEA
No Result
View All Result

Highlights

CHAN 2024: Senegal Edges Sudan on Penalties to Claim Third Place

Lands Minister Initiates Repeal of L.I. 2462 to Protect Reserves and Combat Galamsey

Ghana Link Assures Stakeholders of Major ICUMS Upgrade to Address Downtime Concerns

Troubled Manchester United Boss Amorim Contemplates Future After Grimsby Debacle

African Athletes Shine in 2025 Diamond League: A Celebration of Talent

BoG Designates Digital Credit Services as Non-Bank Financial Service

Trending

Features

Cyber Security Authority Warns of Rising Google Maps Brand Impersonation Scams

August 30, 2025

Ghana Warns of Rising Google Maps Brand Impersonation Scams The Cyber Security Authority (CSA) has issued a...

Fuel Prices to Rise From Monday Despite Fall in Global Oil Prices

August 30, 2025

Alcaraz Dominates to Reach Fourth Round at US Open; Rybakina Advances as Raducanu Falls

August 30, 2025

CHAN 2024: Senegal Edges Sudan on Penalties to Claim Third Place

August 30, 2025

Lands Minister Initiates Repeal of L.I. 2462 to Protect Reserves and Combat Galamsey

August 30, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.