BoG spends $6.5 billion in 6 years to stabilise cedi

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BBC NEWS!!!!!!!!!!!!!!!!!!!!!!!!!!!!! 11 years ago

Nana can go ahead and call for forensic audit of the biometric voter register, who cares? He will lose anyway. Npp means ?????, Nana personal property.

Nana can go ahead and call for forensic audit of the biometric voter register, who cares? He will lose anyway. Npp means ?????, Nana personal property.
KT 11 years ago

This is shocking to Ghanaians. Reserves reduces from $5billion to $0.7B? Too bad.

This is shocking to Ghanaians. Reserves reduces from $5billion to $0.7B? Too bad.
agbesi 11 years ago

Only The Almighty Hand Of God Is Going To Surely Save Ghana From All Economic Problems Crises And/Or Challenges And To Make Ghana As A Shining Star!!!

Only The Almighty Hand Of God Is Going To Surely Save Ghana From All Economic Problems Crises And/Or Challenges And To Make Ghana As A Shining Star!!!
Thomas 11 years ago

Mr Bamumia your are big fool.is not true

Mr Bamumia your are big fool.is not true
THEO 11 years ago

What is not true? You illiterates should shut up and listen to educated people.

What is not true? You illiterates should shut up and listen to educated people.
Kwame 11 years ago

For simple minds, the truth is always very difficult to accept. What is the value of the Cedi now? What is not true about what Dr Bawumia is saying? Like the government, eat the humble pie, please.

For simple minds, the truth is always very difficult to accept. What is the value of the Cedi now? What is not true about what Dr Bawumia is saying? Like the government, eat the humble pie, please.
KWADWO A 11 years ago

Under Kufour, Ghana went HIPC which means all our debts were erased and money poured into Ghana by Donner countries. What did the Kufour administration do with the money before their departure? Know one knows. Ghana's economy ...
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Under Kufour, Ghana went HIPC which means all our debts were erased and money poured into Ghana by Donner countries. What did the Kufour administration do with the money before their departure? Know one knows. Ghana's economy would have been worse under Kufour if Ghana had not gone HIPC. Did he leave any of that money behind for the continuation of the running of the country? NO!!!. Bawumia talk about that before trying to analyse what is going on in the country.
TEE 11 years ago

INFACT MAHAMA HAVE NO CLUE HOW TO RULE A COUNTRY AND HE JUST FILLED THE FLAGSTAFF HOUSE WITH HIS ZONGOS BOYS SCHOOL MINISTERS AND LOOT AND SHARE OUR STATE COFFERS, ARMED ROBBERS ONLY NDC NTAFUO NPEPEFUO FRAFRA MAHAMA

INFACT MAHAMA HAVE NO CLUE HOW TO RULE A COUNTRY AND HE JUST FILLED THE FLAGSTAFF HOUSE WITH HIS ZONGOS BOYS SCHOOL MINISTERS AND LOOT AND SHARE OUR STATE COFFERS, ARMED ROBBERS ONLY NDC NTAFUO NPEPEFUO FRAFRA MAHAMA
OSBON 11 years ago

BUT NO INSULT PLEASE. WE ARE ALL IN IT TOGETHER. REGARDLESS OF TRIBE.

BUT NO INSULT PLEASE. WE ARE ALL IN IT TOGETHER. REGARDLESS OF TRIBE.
Nasri UK 11 years ago

Thomas you got no fucking brains, i should think about your life and your future, you can never in your life be like Dr.Bawumia at least not even in terms of his Experience, the guy is talking about realities facing the count ...
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Thomas you got no fucking brains, i should think about your life and your future, you can never in your life be like Dr.Bawumia at least not even in terms of his Experience, the guy is talking about realities facing the country and all you could say is call him a fool. empty barrels makes the most noise.

F.G. TOWORFE 11 years ago

Bawumia and his cohorts are jumping for joy at the depreciation of the Cedi after hatching plots like the KESSBEN-DOLLAR siphon case. Now BoG needs to spend all this amount, and they are the first to open their loud mouths an ...
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Bawumia and his cohorts are jumping for joy at the depreciation of the Cedi after hatching plots like the KESSBEN-DOLLAR siphon case. Now BoG needs to spend all this amount, and they are the first to open their loud mouths and shout.'ANOMA KONEKONE'.
THEO 11 years ago

That is Kessben own money. He can exchange it into any currency he wants. You Atongo-Trokosi fraternity should stop your jealousies.

That is Kessben own money. He can exchange it into any currency he wants. You Atongo-Trokosi fraternity should stop your jealousies.
tragic country lover 11 years ago

I had no idea i share this country with the likes of you, wow some serious mental state DEAR GOD I PRAY THAT YOU EDUCATE EVERY INHABITANT OF THIS LOVELY COUNTRY THAT IS BEING RUINED BY A GROUP WHO HAVE NO LOVE FOR THE COUNT ...
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I had no idea i share this country with the likes of you, wow some serious mental state DEAR GOD I PRAY THAT YOU EDUCATE EVERY INHABITANT OF THIS LOVELY COUNTRY THAT IS BEING RUINED BY A GROUP WHO HAVE NO LOVE FOR THE COUNTRY. A BUNCH OF CRIMINALS WHO HAVE BANDED TOGETHER BY A COMMON CAUSE ,TO LOOT THE NATION,. You my friend must start putting the nation first not npp or ndc or qqq for that matter
Awurade kasa 11 years ago

Nana Addo must be your running rather.

Nana Addo must be your running rather.
Prof Botswana 11 years ago

So should ghanaians understand that it is the opposition that is manupulating the the Ghanaian economy. They just buy the dollar and other hard currencies and hide.

So should ghanaians understand that it is the opposition that is manupulating the the Ghanaian economy. They just buy the dollar and other hard currencies and hide.
CALM 11 years ago

they can never understand this language because they lack business acumen AND LACK GOOD MORALS.....

they can never understand this language because they lack business acumen AND LACK GOOD MORALS.....
NOBLE 11 years ago

Sometimes I really don't get it why some ghanaians don't want to buy the truth, but instead accept blatant lies. I think even in this 21st centry where knowledge abunds and every thing is done in openess, ,yet the high ilitra ...
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Sometimes I really don't get it why some ghanaians don't want to buy the truth, but instead accept blatant lies. I think even in this 21st centry where knowledge abunds and every thing is done in openess, ,yet the high ilitracy rate has blinded most ghanaians to even see let alone understand even simple facts and figures. The exposition that Dr. Bawumia has brought to bear it crytal clear to get it, but its still buffles me why ghanaians refuse to admit that the national economy is in worse state.if you can spend $6.5billion to strenghten the cedi against major currencies like US dollar but yielded no significant results 40gh = 1US dollar in 6 years but someone uses 2.5billion in 8 years to achieve 1.2gh = 1 US dollar a significant accomplishment, how would you say that you are pursuing better ghana agenda?Amist all these failures you still wants to keep borrowing to service national debt.This alone should be an eye opener for fellow ghanaians to cast awise vote when the time comes. NPP took ghana to HIPIC and brought a relieve to Ghana but NDC has even worsen the good achievements of NPP.Am not an affiliate of any of the political parties in ghana but I standby the truth.Food for thought.
bigbrosam 11 years ago

HOW NICE AND INNOCENT IN YOUR MIND BY STANDING BY THE TRUTH,FRANKLY YOU ARE ENEMY OF THE STATE AND THE MAJORITY OF STATE SPONSERED ILLITRATES FOR STANDING BY THE TRUTH.THE AGENDER IS TO MISEDUCATE THE MASSES AND LOOT AS MUCH ...
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HOW NICE AND INNOCENT IN YOUR MIND BY STANDING BY THE TRUTH,FRANKLY YOU ARE ENEMY OF THE STATE AND THE MAJORITY OF STATE SPONSERED ILLITRATES FOR STANDING BY THE TRUTH.THE AGENDER IS TO MISEDUCATE THE MASSES AND LOOT AS MUCH AS ONE CAN,SO THE MINOR EDUCATED CAN EXPRESS THEIR OPINION IN VAIN,TO THEM DOING THE RIGHT THING IS A WASTE AS IT DOES NOT SERVE THEIR LOOTING AGENDER,
MENSAH. 11 years ago

Truth hurts,but integrity is,and would always be,the ultimate conqueror.
I am not in affiliation with any party in Ghana too,but I will always back the right things done and criticise the wrongs.
I am very sad,many people a ...
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Truth hurts,but integrity is,and would always be,the ultimate conqueror.
I am not in affiliation with any party in Ghana too,but I will always back the right things done and criticise the wrongs.
I am very sad,many people at home don't want to face reality,but back the wrong things others might be doing.
God bless you for your inputs.
KWADWO A 11 years ago

Under Kufour, Ghana went HIPIC which means all our debts were erased and money poured into Ghana by Donner countries. What did the Kufour administration do with the money before their departure? Know one knows. Ghana's econom ...
read full comment

Under Kufour, Ghana went HIPIC which means all our debts were erased and money poured into Ghana by Donner countries. What did the Kufour administration do with the money before their departure? Know one knows. Ghana's economy would have been worse under Kufour if Ghana had not gone HIPIC. Did he leave any of that money behind for the continuation of the running of the country? NO!!!. Bawumia talk about that before trying to analyse what is going on in the country.

MENSAH. 11 years ago

The legacy PRESIDENT KUFUOR COULD LEAVE WAS,IF NOTHING AT ALL,STABILITY OF THE CEDI,FREEDOM OF SPEECH,WHICH RAWLINGS TOOK AWAY FROM YOU,AND OIL.

Mahama has blown every chances prepared for him,by KUFUOR.
I think,MAHAMA sh ...
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The legacy PRESIDENT KUFUOR COULD LEAVE WAS,IF NOTHING AT ALL,STABILITY OF THE CEDI,FREEDOM OF SPEECH,WHICH RAWLINGS TOOK AWAY FROM YOU,AND OIL.

Mahama has blown every chances prepared for him,by KUFUOR.
I think,MAHAMA should go down to be the most favoured president in GHANA,than most of them.
He was given everything,tools,amenities,to have succeeded and succeed very well,but has blown it,big time.
NOW,HEADING TOWARDS IMF BAILOUT.

What a failure and shame!
Ns3m pii 11 years ago

You can't even win elections how can you govern a nation. Keep bluffing and stay in opposition forever.

You can't even win elections how can you govern a nation. Keep bluffing and stay in opposition forever.
NIKOI-ADOMAKO 11 years ago

Besides selling Ghana's priceless assets such as GHANA TELECOM, ASHANTIGOLDFIELDS etc. to generate foreign currency, what exactly did the NPP Government do to boost our foreign currency reserves? Look at Ashanti Goldfields n ...
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Besides selling Ghana's priceless assets such as GHANA TELECOM, ASHANTIGOLDFIELDS etc. to generate foreign currency, what exactly did the NPP Government do to boost our foreign currency reserves? Look at Ashanti Goldfields now, they have closed the Obuasi Mines and laid off thousands of employees who will join the unemployment line. Is this what we are praising as good economics? If they had laid down sound economy fundamentals, no volatility will cause major damage. The NPP economic managers did a lazy job which in itself was a trap for the NDC. Their management of the economy was fake at best - a temporary feel good kind of situation that was waiting to implode. If they have the solutions now, they are also Ghanaians, they should spit them out and join the economic team. It is not uncommon to see the opposition joining the ruling party all in the name and love of country. The Secretary of Defense in America is a republican but he is serving under Obama's administration.
CALM 11 years ago

how long did it take NDC to waste billions of dollars looking for oil UNSUCCESSFULLY...... why did John Mahama and NDC overspent by 4.5 BILLION DOLLARS JUST TO WIN ELECTION 2012?.......THEN look at gyeeda sada subah...... fak ...
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how long did it take NDC to waste billions of dollars looking for oil UNSUCCESSFULLY...... why did John Mahama and NDC overspent by 4.5 BILLION DOLLARS JUST TO WIN ELECTION 2012?.......THEN look at gyeeda sada subah...... fake judgment debts....... STUPID FOOL DO U KNOW THAT EWES, FANTIS, & NORTHERNERS are so desperately poor whilst ur criminal NDC continues to CREATE LOOT AND SHARE?.......... STUPID FOOL.
NIKOI-ADOMAKO 11 years ago

DO YOU ALSO KNOW HOW MUCH ENDED UP IN THE POCKETS OF THOSE WHO SOLD OUR NATIONAL ASSETS DURING THE NPP PERIOD?

DO YOU ALSO KNOW HOW MUCH ENDED UP IN THE POCKETS OF THOSE WHO SOLD OUR NATIONAL ASSETS DURING THE NPP PERIOD?
YawZa 11 years ago

'He continued, "When they say there is no money, they will tell you some dwarves came in and stole money. If it is not high rise buildings, it is speculators. If it is not speculators, they will tell you it is the redenominat ...
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'He continued, "When they say there is no money, they will tell you some dwarves came in and stole money. If it is not high rise buildings, it is speculators. If it is not speculators, they will tell you it is the redenomination of the cedi in 2007 that is the cause of the current crisis. They really do not have a clue.”'by Dr.Bawumia
The Ghana dwarfs are stealing Ghana's money.
Are these dwarfs the likes of Woyome?
Not until the NDC determines what are the fundamentals of our economy crisis, they will never get us out of this current economic mess.
They are simply confused and clueless and above all incompetent.
NTIKUMA ANANSE 11 years ago

LIES, FALSEHOOD AND PROPAGANDA IS NOT GOOD BASIS FOR RUNNING AN ECONOMY. A NATION'S ECONOMY IS RUN ON COLD HARD FACTS ON THE GROUND. IF YOU DO NOT USE COLD HARD OR REAL FACTS YOU ARE WASTING YOUR TIME. IT IS VOODOO OR MMOATIA ...
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LIES, FALSEHOOD AND PROPAGANDA IS NOT GOOD BASIS FOR RUNNING AN ECONOMY. A NATION'S ECONOMY IS RUN ON COLD HARD FACTS ON THE GROUND. IF YOU DO NOT USE COLD HARD OR REAL FACTS YOU ARE WASTING YOUR TIME. IT IS VOODOO OR MMOATIA ECONOMICS WHICH THE NDC IS RUNNING, HENCE TALK ABOUT DWARVES SIPHONING CEDIS ETC. JUST PROPAGANDA AND PURE BLACK LIES WHICH NDC FALSELY BELIEVES, IS EVERYTHING IN LIFE ON EARTH.
Campaign Against Corruption 11 years ago

These BOG guys are useless because they believe that they can manage the economy with only monetary policies. They are chickens and afraid to tell the government to better manage fiscal policy. No matter what BOG does if the ...
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These BOG guys are useless because they believe that they can manage the economy with only monetary policies. They are chickens and afraid to tell the government to better manage fiscal policy. No matter what BOG does if the government does not keep their house in order and curb overspending and massive leaks through corruption, the economy will head for bottomless abyss.
KWAME KWAME 11 years ago

Because of our impatient nature, we Ghanaians have always refused to sacrifice even for a few months when the going get tough. Perhaps due the socialistic tendencies in the country starting way back from Nkrumah's time, we ha ...
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Because of our impatient nature, we Ghanaians have always refused to sacrifice even for a few months when the going get tough. Perhaps due the socialistic tendencies in the country starting way back from Nkrumah's time, we have been inclined to look to the Government to give us our jobs, health care, education, infrastructure etc. - virtually everything. It is therefore no surprise that Ghanaians I general, especially the educated ones, favor Government work more than making attempts to venture into their own micro and small businesses. Most of us have also abandoned farm work in the rural areas. We have expected our Government (with limited resources)to shoulder all this burden even as our population has increased. This, my friends, is not sustainable for any country even the advanced ones. Our politicians know very well about these Ghanaian qualities. Therefore, in order for the Government of the day to retain power, they spend so much time and money preparing our 5 year National development plan only for them to be put on the shelves. They try their best to run the economy by solving the short-term problems. The end result is that the fundamentals required for real economic growth is never tacked well and remain on sinking ground. This explains the booms and burst we have been witnessing over the years with the economy.

SOLUTION:

As Ghanaians we should understand that we can develop our economy only through the development of the PRIVATE SECTOR - those micro, small and medium size (the mom and pop)businesses. We need to create millions and millions of these type of businesses in the country. The private sector is not the Government. It is YOU and ME. The individual Ghanaians.
We should not expect the Government to provide all the businesses, infrastructure and other social amenities with its limited resources.

The role of Government is to provide conducive environment for the private sector or businesses to thrive better.

I implore our men and women especially those living in the cities and big towns to change our attitudes and try their hands on our own small businesses. We should also trust one another and form partnerships to create medium size businesses. If most of us are making, creating and innovating things, we would be transforming our economy into an industrial/ manufacturing and service economy where the jobs are with higher wages and more sustainable. Let's change our attitudes and start now to come up with new business ideas which we will take to the bank and seek financing to bring them to fruition. The Government alone cannot handle the huge unemployment problem. Check where you are living now. Find out what you can make, create or innovate in the country that can be sold to others and you have a business. (NOTE THE WORDS ARE MAKE, CREATE AND INNOVATE & NOT BUY AND SELL). The first step is the hardest but take some risks and start something and you will realize that help will come your way.

A lot of our youth do not want to go into farming. Therefore we need to introduce mechanized farming in order to increase productivity on the same acre of land for food security and exports. Our Agricultural Engineering colleges at Legon, KNUST, Cape Coast etc. must stop those theoretical programs and start to design and help manufacture these farm implements - ploughs, harvesters etc. and irrigation systems to make this possible. We can start with not so sophisticated machines but simple home grown ones as the Indians have done.

If we play our part, we will give our Government the space to carry out the medium to long term development goals including strengthening of our Government institutions, infrastructure, social, regulations, rule of law etc. which normally take longer period to implement but will help us to build our economy on solid rock which will be rather more sustainable.

In effect, Ghana needs an INDUSTRIAL REVOLUTION TO TRANSFORM THE ECONOMY. THAT SHOULD BE STARTED BY YOU AND I, WITH GOVERNMENT PROVIDING THE ENABLING ENVIRONMENT FOR THESE NEW PRIVATE BUSINESSES TO BECOME SUCCESSFUL.
MENSAH. 11 years ago

Kwame,thanks for your dear time,ideas,suggestions,contribution.
You said:

The role of government is to provide conducive environment for the private sector or businesses to thrive better.
That's totally right.
THE QUEST ...
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Kwame,thanks for your dear time,ideas,suggestions,contribution.
You said:

The role of government is to provide conducive environment for the private sector or businesses to thrive better.
That's totally right.
THE QUESTION IS,HAS THIS GOVERNMENT DONE SO?
NO,OF COURSE.
First of all,our educational system is not tailored to critical thinking,training of youth to enter private businesses with innovative ideas that create positive results.
THE BANKS ARE NOT HELPING THE YOUTH.
The economy is not managed as it ought to have been,with unnecessary and reckless borrowing and spending,coupled with BRIBERY & CORRUPTION.
There is no job creation if there is no money to do it.
How can a government borrow without having the money to pay?
You also said,we must trust each other to bond in partnership to create medium size businesses.
That could have been a very good idea,but the question is:

WHO SHOULD BE TRUSTED IN GHANA NOW?

Brother,trust is not a factor in any GHANAIAN LIFESTYLE EQUATION,any longer.
VERY,VERY,VERY SAD INDEED.
I personally,do not trust any Ghanaian to bond in partnership in business,because,I tried some,on four different occasions in TORONTO,and they didn't work,let alone with someone in "OGYA KROM" GHANA.
In RAWLING'S TIME,MY BUSINESS IN GHANA COLLAPSED BY MY OWN BROTHER'S SON,and loss US$160,000.00
You spoke of changes in our attitude:
THE POLITICIANS AND GOVERNMENT OFFICIALS,SHOULD BE THE FIRST TO START THIS,BEFORE,IT WILL TRICKLE DOWN TO THE CITIZENRY,AT LARGE.
I support you more than 1,00000000000000000000000000000000000% that THE WORD IS:

MAKE,CREATE AND INNOVATE,BUT NOT BUY & SELL.

One cannot make it in business without taking some risks,but utmost cautions should be employed,alongside the risk taking,especially in Ghana,where integrity is not there.

Thanks for your input,anyway and God bless you.

Kwabena senkyire 11 years ago

Well said DR.Bawumia, the truth hurts. The NDC are taken the country for a ride. They are stealing from the poor.The future of the country is at stake its scare resources is being put in the hands of fools and thieves. The go ...
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Well said DR.Bawumia, the truth hurts. The NDC are taken the country for a ride. They are stealing from the poor.The future of the country is at stake its scare resources is being put in the hands of fools and thieves. The good God of our time should never forgive these idiotic fools.
GHANA 11 years ago

THE PROBLEM IS GHANA'S DYSFUNCTIONAL PARLIAMENT CANNOT KICK OUT A SITTING PRESIDENT LIKE HOPLESS MAHAMA AND HIS GOVERNMENT BY A VOTE OF NO CONFIDENCE.

IF THERE IS SUCH A CONSTITUTIONAL CLAUSE AND MAHAMA IS STILL IN OFFICE ...
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THE PROBLEM IS GHANA'S DYSFUNCTIONAL PARLIAMENT CANNOT KICK OUT A SITTING PRESIDENT LIKE HOPLESS MAHAMA AND HIS GOVERNMENT BY A VOTE OF NO CONFIDENCE.

IF THERE IS SUCH A CONSTITUTIONAL CLAUSE AND MAHAMA IS STILL IN OFFICE STILL GETTING PAID BY GHANA'S LONG-SUFFERING TAX PAYER, THEN GHANA'S USELESS PARLIAMETARIANS AND ENTIRE LEADERSHIP ARE TO BLAME.

GHANAIANS SIMPLY HAVE TO COME TOGETHER AND KICK OUT MAHAMA FROM OFFICE.

COMPLAINTS UPON COMPLAINTS ABOUT MAHAMA'S DYSFUNCTIONAL GOVERNMENT DOES NO ONE ANY GOOD.

HE HAS TO BE KICKED OUT BY FORCE.
cha 11 years ago

Wow this man is good- Ghanaians wake up and vote for NPP now

Wow this man is good- Ghanaians wake up and vote for NPP now
GHANABA 11 years ago

Don"t believe the hype.

Don"t believe the hype.
Kwajo Sei 11 years ago

Dr Bawumia wants to be president? So he has forgotten that the economy he played with yesterday is the economy we have today .Who does he want to correct it tomorrow so that he would come and play with it again.? Why are not ...
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Dr Bawumia wants to be president? So he has forgotten that the economy he played with yesterday is the economy we have today .Who does he want to correct it tomorrow so that he would come and play with it again.? Why are not saying anything about theirrole in making the economy what is today?
Obed Adore 11 years ago

That's right, Read my comment below please..

That's right, Read my comment below please..
Kwame-Dublin 11 years ago

Dr Bawumia - you are truly the best -the ndc is clueless and ghanians will know how they have destroyed the economy when they exit power- they blame the redomination for their mess but when during mills time when they claimed ...
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Dr Bawumia - you are truly the best -the ndc is clueless and ghanians will know how they have destroyed the economy when they exit power- they blame the redomination for their mess but when during mills time when they claimed they had 14% growth they never mentioned any redomination -- oh ndc why do you always fined excuses for your mess please shut up and fix the economy
TEE 11 years ago

WHY GHANAIANS HAVE BEEN FOOLS AGAIN TO VOTE THESE ARMED ROBBERS LOOT AND SHARE NDC INTO POWER AGAIN. IT SERVES GHANAIANS RIGHT AND THINK TWICE WHEN CITING AGAIN PERIOD

WHY GHANAIANS HAVE BEEN FOOLS AGAIN TO VOTE THESE ARMED ROBBERS LOOT AND SHARE NDC INTO POWER AGAIN. IT SERVES GHANAIANS RIGHT AND THINK TWICE WHEN CITING AGAIN PERIOD
TEE 11 years ago

CLUELESS INCOMPETENT MAHAMA AND HIS CRONIES

CLUELESS INCOMPETENT MAHAMA AND HIS CRONIES
Genuine Observer 11 years ago

And, as usual, NDCs will call theses revelations about the economy as nonsense as long as it is the truth because they believe in lies only.

And, as usual, NDCs will call theses revelations about the economy as nonsense as long as it is the truth because they believe in lies only.
kobi 11 years ago

Dr Bawumia should tell us what he can do ,or what he want to do for mother ghana;Otherwise I will advice him to shout up.....Let have our peace about all the theories he give us every now and them.

Dr Bawumia should tell us what he can do ,or what he want to do for mother ghana;Otherwise I will advice him to shout up.....Let have our peace about all the theories he give us every now and them.
Obed Adore 11 years ago

The NPP's monetary policies such as the de-monetarization of the Cedi caused these problem for Ghana.
Placing the cedi at equal footing to the USA dollar, was the biggest mistake and the main cause of our current predicamen ...
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The NPP's monetary policies such as the de-monetarization of the Cedi caused these problem for Ghana.
Placing the cedi at equal footing to the USA dollar, was the biggest mistake and the main cause of our current predicament.
Immediately after applying for HIPIC, Kufour and his team took the four zeros out of the cedi, beating their chests with the "WO Ni- ME NI" Bragging Slogan. By ther way, what was Ghana's economic base by then to equate the Cedi to the American dollar ? Comparing the USA's multi-billion economy to that of Ghana's was very foolish and an economic suicide for Ghana. We are feeling the negative effects now. Don't blame the current government!
Annorwuo 11 years ago

Be bod and dismiss that ridiculous action brought before it by that 'crazy' Money& Banking Lecturer a few weeks back.

Be bod and dismiss that ridiculous action brought before it by that 'crazy' Money& Banking Lecturer a few weeks back.

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BoG spends $6.5 billion in 6 years to stabilise cedi

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