Author: Opare Ansah, USA Posted: 2012-07-04 08:38:38 in economics, there is what is called excess liquidity. this comes about when the govt spends more than it has. the govt has increased salaries over the board, some so high like 4000 GHS for castle workers, single spine for all workers and judgement debt but the govt has not got the required returns from taxes so it keeps borrowing from the banks. this is just one of several reasons, though.
Why Oct when measures failed in June?
Author: Kwaku K Posted: 2012-07-04 08:45:09 If BoG officials failed to "halt cedi’s free fall by end of June 2012", what guarantees do they have to make it work in October 2012?
Is this an election gimmick? The issue is simple ... do all that is necessary to manufacture products in Ghana rather than importing everything!
SAY NOTHING THIS TIME
Author: MAMBO Posted: 2012-07-04 08:54:15 THIS PEOPLE SAID IT WILL STABILIZE IN FEW WEEKS WHEN THIS SRARTED FEW MONTHS AGO. NOW THEY ARE SAYING OCTOBER. WHEY SHOULD SHUT UP IF THEY DO NOT HAVE THE RIGHT THIN TO SAY.
They have zero clue
Author: Kofi Asante Posted: 2012-07-04 08:59:36 This economic team is just running on auto pilot. They simply don't have a clue about what is going on. Oh Ghana! Are there no learned men and women in Ghana to salvage us from this mess?
Keep On Counting To Deceive The People
Author: Question Your Mentality Posted: 2012-07-04 08:59:38 We are all fools keep on pilling the deceit and one day it will come true.
Wait For Bawumia
Author: KWAKU KPANDOs Posted: 2012-07-04 09:02:41 Mr. Duffour said for some weeks ago that the cedi problem will solve in July but now you have added another two months. Shame unto you, Wait for Mr. Bawumia because you dont know the thing.
STABILIZE AT WHAT RATE?
Author: Osei Wiafe, USA Posted: 2012-07-04 09:11:27 My question is: Who voted the NDC to power to cause us all this mayhem? Ghanains, we have squandered the good opportunity to live a better life. A CLUELESS PARTY !
July to October?
Author: Kofi Posted: 2012-07-04 09:28:45 We were told the cedi would stabilize in July. How did July become October? I knew the authorities had no idea what they were talking about. Just bring in Bawumia to help you. It is no shame!
Everything October
Author: alhaji Posted: 2012-07-04 10:00:11 Joe Gidisu, the Hon Minister for Roads says the Nsawan - Suhum road will be in good shape by Octobe.
Lets wait and see. Asembeba dabi
Political Talks
Author: Paa George Posted: 2012-07-04 10:28:40 My question is short and striaght, 'At what value is the Cedis going to be to the foreign currencies and why waiting to October'?.
If BOG and the Mr Mills government cannot work it now, what the possibility they can get it right in future. Are they going to borrow money from some where or get to the Obusie gold mines to dig the gold to support the Cedis?.This is all 'BS' and Silly talks my friend.They NDC administration want to use that for their campaign in November 2012.All that Ghanaians are look for, better economy and job creating okay. If this government cannot take the 'heat' they should leave, period and stop beating about the bush.
CEDI DROPPING
Author: KOFI - HOUSTON Posted: 2012-07-04 10:46:57 THESE PEOPLE ARE JUST TALKING. THEY CANNOT HELP THE CEDI. IT IS SAD.
October - During X'mas Shopping Period??
Author: Say the Truth Posted: 2012-07-04 11:47:23 These people are jokers how do they expect the Cedi to stable at the time there will be higher demand for Foreign Currencies from Business for the shipment of X'mas goods.
We live to see - they promised the Cedi to stabilize by June 2012 ending - NOTHING HAPPENED - WE GOT MORE FALL OF THE CEDI AND NOW THEY SAY OCTOBER - BUSY SEASON FOR X'MAS SHOPPING AND SHIPPING BY BUSINESSES!!!!!
hmmmmmmmmmmmmmmmmmmmmmmm!!!!! IS ECOMINI TREND STUPID???????
Foolishness at its highest point
Author: Kyekyeku Posted: 2012-07-04 12:28:35 You can fool the people for sometime but not all the time. You guys have all your bank accounts in Europe and America . Stop making those stupid predictions and leave us alone.
DON'T BELIEVE THEM ,THEY 'RE LIARS
Author: bigbrosam Posted: 2012-07-04 12:37:13 WITH ALL THOSE HUGE BORROWING, THE RESULTS ARE NOW TREADING IN,NO ONE
SHO ULD EXPECT A STABILISED CEDI UNDER
THOSE WHO CAUSED ITS FALL,THEIR WORDS ARE NEVER CONSISTENT WITH THEIR ACTIONS,ALWAYS PROMISING WHEN GOODTHINGS THAT NEVER GET DONE OR BLAMING ON BADTHINGS ALWAYS HAPPENS UNDER THEIR WATCH.
fall of cedi
Author: ibrahim umar Posted: 2012-07-04 12:49:41 the bank of ghana should be realistic about their projections and stop beating about the bush. they should give as a break.
Shame on NDC Plunderers
Author: Ms Ghana Posted: 2012-07-04 13:19:36 By this can we assume that all the thieving, stealing and pilfering of foreign currency by NDC members in high positions will be completed by October, and any members who are unable to convert their ill - gotten cedis by this deadline will be on their own? Shame on the NDC. They did the same thing in 2000. Very wicked party full of greedy bastards. Fiifi Kwettey should come out and defend this. That half-baked economist.
Re: Bank of Ghana expects cedi to stabilize from O
Author: yaw Otieku Posted: 2012-07-04 13:36:17 the stabilization of the cedi, is it no more in July, as they predicted? come December the beter gov't will come and do it.
CONTINUE WORKING HARD!!
Author: OSOFO Posted: 2012-07-04 14:11:21 SHORT TERM PREDICTIONS ARE NOT HELPFUL SOME OF THE TIMES.THEY ARE FREE TO ASK ME FOR IDEAS.
I do agree the cedi will be stable.
Author: CORRUPT NDC Posted: 2012-07-04 15:24:37 The cedi will be stable as a vote of confidence that the NPP is coming to rule and will manage the economy better.
CEDI
Author: ABONGO Posted: 2012-07-04 15:26:56 WHOS WHO? FINANCE MINISTER OR GOVERNOR OF NATIONAL BANK?
Re: Bank of Ghana expects cedi to stabilize from O
Author: Osei Mann, UK Posted: 2012-07-04 18:41:51 This people are only toying with the Ghana economy, end of June is now October from there it will be January 2013, the mass are suffering bcos everything has gone high, God safe Ghana from these peoples hand.
NDC will ree fall down to oposition Dec
Author: man Posted: 2012-07-04 21:54:53 WE the people of Ghana are very very very tired of NDC lies our ears cant take it anymore. NDC will free fall like they are doing to Ghana money
We need short Measures
Author: Yaw S Posted: 2012-07-05 01:26:48 We need short term measures.Most Businesses are colapsing.Can't We consider alternative measures.The previous Government were able to stabilze the cedi why is it that present Government cannot do same. Please consult them for advise.
Re: Bank of Ghana expects cedi to stabilize from O
Author: kk Posted: 2012-07-05 04:18:35 how long will it depreciate before stabilizing ? and how longwill it stabilize? we know you are trying your best.
dollars
Author: Apietu Posted: 2012-07-05 06:53:18 Free advise to the Gov. if he is not aware w OR KUMASI Ahere ZONGO LANE ACCRA is located,or KUMASI ALABAR IS.
YOU ARE TO THERE FOR ALL THE FOREIGN MONEY IS.
CEDI WITHOUT FOUNDATION
Author: WHAANAA Posted: 2012-07-05 08:43:31 THE CEDI WITHOUT THE PESEWAS MEANS, IT HAS NO FOUNDATION. THE GOVERNOR OF THE BANK OF GHANA MUST BE TOLD TO WITHDRAW THE TINY PESEWAS IN CIRCULATION AND REINTRODUCE AN ACCEPTABLE COIN WHICH GHANAIANS WILL RESPECT AND USE.
THE ONE PESEWA WHICH IS NOT BEING USED AS MEDIUM OF EXCHANGE IS THE CAUSE THE PROBLEMS WE FACE IN THE COUNTRY. I AM NOT AN ECONOMIST BUT I AM ONLY SPEAKING OUT MY COMMON SENSE. NOW SOME ONE WOULD THINK THAT THE PESEWA IS NOT IMPORTANT BUT THAT IS NOT TRUE. THE REASON IS THAT THE MULTIPLES OF THE PESEWA BECOMES SO HUGE MONEY. IN SIMPLE TERMS LETS TAKE THIS EXAMPLE: WE ARE ALMOST TWENTY FIVE MILLION IN THIS COUNTRY. LET’S ASSUME THAT EVERYDAY ONE DRINKS ONLY ONE SACHET (500MLS) OF PURE WATER AT THE COST OF ONLY ONE PESEWA, THIS MEANS WE NEED 25,000,000 PESEWAS TO BUY PURE WATER. IF YOU CONVERT THIS QUANTUM OF PESEWAS INTO GHANA CEDIS YOU WILL GET GHC250, 000.00 PER DAY THIS IS ONLY ONE ITEM WATER, WHICH SOME PEOPLE DRINKING ABOUT 4 OR 5 TIMES A DAY. THE ONCE A DAY AMOUNTS TO GHC 91,250,000 IN A YEAR BECAUSE DRINKING OF WATER HAS NO HOLIDAY OR SUNDAY. WE DRINK WATER EVERYDAY. HOW ABOUT CHANGE IN TRADE? BECAUSE WE ARE NOT RESPECTING THE PESEWA PRICES OF COMMODITIES ARE ROUNDED UP. FOR EXAMPLE A KOOKO SELLER WHO SELLS KOOKO AT 20 PESEWAS PER CALABASH WILL INCREASE HER PRICE TO TWENTY FIVE PEASEWAS BECAUSE OF THE EXCUSE THAT THERE IS NO CHANGE. THE TRO TRO DRIVERS ALSO DO THE SAME. THE CEDI DEPRECIATE AGAINST THE MAJOR CURRENCIES IN PESEWAS NOT IN CEDIS SO IF WE DO NOT VALUE THE PESEWAS WE WILL CONTINUE TO SUFFER HIGH INFLATION. THE BRITISH STILL SPEND THEIR PENCE, THE AMERICANS SPEND THE CENT. THE NIGERIANS SPEND THEIR KOBO SO WHY HAVE WE REJECTED THE PESEWAS?
I AM BY THIS WRITE UP APPEALLING TO ALL THOSE WHO WOULD READ THIS PIECE TO JOIN ME IN MAKING LOUD NOISE TO THE GOVERNOR OF BANK OF GHANA AND THE FINANCE MINISTER TO WORK OUT TO BRING NEW ACCEPTABLE PESEWA COINS (ONE PESEWA)
Fees for depositting money in foreign cu
Author: Owusu Posted: 2012-07-05 10:09:35 One of these "measures" was to charge people for making/having deposits in foreign currencies to discourage that. Would think my deposit which has sat there for 7 years would attract some interest - nil.I am paying to keep the account - upwards of 20 pounds a month.Result-money out> Just keep it in the USA where the banks are grateful to keep the money and use it as capital for generation of more money. I'm no economist but seems measures like these are couner-productive
The NDC Econs 101!!!
Author: Mumuni Frafra Posted: 2012-07-05 12:55:19 And what happens from July 5th to September 30th? Can't do anything so the "SLIDE" continues for the next three good months!! You seems to be telling us...'sorry there's nothing I can do now. Too bad, but the NDS admin is on a three-month summer retreat to learn new tricks on how to win the next election. That's more important than the fall in the currency. "We'll PRINT more money into the system and the inflationary pressure on that won't be felt until after the election"!!!
Confused Administration
Author: Ben Posted: 2012-07-05 15:31:33 I was at the bank yesterday to withdraw money from my US dollar account. I was told that the Bank of Ghana has instructed them not to pay customers with whose dollar deposits are throgh transmission. No amount of argument could change the decision so I was paid in Ghana Cedis. I wonder how this will solve the problem of depreciation of the Cedi against the dollar and other major currencies. The reason being that when one is paid in Cedis, all he does is to go to the open market and buy the dollar no matter the rate. I wonder if the Bank of Ghana thought through this before issueing this directive. This is nothing but confusion and gross incompetence. We need real thinkers to lead this country.
IS NKURMAH COMING BACK IN OCTOBER
Author: Akadu Mensema Posted: 2012-07-05 16:41:16 Ho hooooooooooooooooooooooo!
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