Convene emergency meeting on cedi fall – GUTA

Read Comments Comments (7)

• TK 10 years ago

  you understand?
  
  As long as imports exceed exports and the country (BoG)does not have enough dollar reserves to back the cedi; guess what happens:
  
  THE FREE FALL CONTINUES
  
  You simply cannot rely on loans and grants to ...
  read full comment

  you understand?
  
  As long as imports exceed exports and the country (BoG)does not have enough dollar reserves to back the cedi; guess what happens:
  
  THE FREE FALL CONTINUES
  
  You simply cannot rely on loans and grants to shore up your local currency.

  reply
• The mask 10 years ago

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  reply
• sunil varyani 10 years ago

  the ghana cedi should be pegged to the us dollar like saudi diram and some other 44 countries in the world have done. this will save the currency from depreciation . pls the leadership of the country should consider this

  the ghana cedi should be pegged to the us dollar like saudi diram and some other 44 countries in the world have done. this will save the currency from depreciation . pls the leadership of the country should consider this

  reply
• Crackadoddledooooo 10 years ago

  The currency is simply a commodity. Price will be based on supply and demand. We need to increase supply of $ and reduce demand for $ to stabilise the currency. Increase supply of $ is a medium to long terms process that wil ...
  read full comment

  The currency is simply a commodity. Price will be based on supply and demand. We need to increase supply of $ and reduce demand for $ to stabilise the currency. Increase supply of $ is a medium to long terms process that will require promotion and agressive growth of locally produced everything and manufacturing and exports which we have refused to do with policy interventions. The business community and policy makers have also become lazy and comfortable encouraging the importation of everything. Curbing demand will require the $ to become expensive and Cedi to fall to levels that will reduce buying power of everything imported and in turn demand for the $ to bring a natural balance between supply and demand of dollars. We love everything imported. We want to look imported. We love imported hair, we love imported eyelashes, we love the most expensive cars, the most expensive homes and finishings, the most expensive designer bags and clothed and basically imported everything and so we must pay the price for it. No meeting will solve that. To get out of this mess for the long term the Ghana cedi needs to fall to a level where we learn and appreciate to use $ to buy what we need and not what we want.

  reply
• Crackadoddledooooo 10 years ago

  The currency is simply a commodity. Price will be based on supply and demand. We need to increase supply of $ and reduce demand for $ to stabilise the currency. Increase supply of $ is a medium to long terms process that wil ...
  read full comment

  The currency is simply a commodity. Price will be based on supply and demand. We need to increase supply of $ and reduce demand for $ to stabilise the currency. Increase supply of $ is a medium to long terms process that will require promotion and agressive growth of locally produced everything and manufacturing and exports which we have refused to do with policy interventions. The business community and policy makers have also become lazy and comfortable encouraging the importation of everything. Curbing demand will require the $ to become expensive and Cedi to fall to levels that will reduce buying power of everything imported and in turn demand for the $ to bring a natural balance between supply and demand of dollars. We love everything imported. We want to look imported. We love imported hair, we love imported eyelashes, we love the most expensive cars, the most expensive homes and finishings, the most expensive designer bags and clothed and basically imported everything and so we must pay the price for it. No meeting will solve that. To get out of this mess for the long term the Ghana cedi needs to fall to a level where we learn and appreciate to use $ to buy what we need and not what we want.

  reply
• Crackadoddledooooo 10 years ago

  The currency is simply a commodity. Price will be based on supply and demand. We need to increase supply of $ and reduce demand for $ to stabilise the currency. Increase supply of $ is a medium to long terms process that wil ...
  read full comment

  The currency is simply a commodity. Price will be based on supply and demand. We need to increase supply of $ and reduce demand for $ to stabilise the currency. Increase supply of $ is a medium to long terms process that will require promotion and agressive growth of locally produced everything and manufacturing and exports which we have refused to do with policy interventions. The business community and policy makers have also become lazy and comfortable encouraging the importation of everything. Curbing demand will require the $ to become expensive and Cedi to fall to levels that will reduce buying power of everything imported and in turn demand for the $ to bring a natural balance between supply and demand of dollars. We love everything imported. We want to look imported. We love imported hair, we love imported eyelashes, we love the most expensive cars, the most expensive homes and finishings, the most expensive designer bags and clothed and basically imported everything and so we must pay the price for it. No meeting will solve that. To get out of this mess for the long term the Ghana cedi needs to fall to a level where we learn and appreciate to use $ to buy what we need and not what we want.

  reply
• Crackadoddledooooo 10 years ago

  The currency is simply a commodity. Price will be based on supply and demand. We need to increase supply of $ and reduce demand for $ to stabilise the currency. Increase supply of $ is a medium to long terms process that wil ...
  read full comment

  The currency is simply a commodity. Price will be based on supply and demand. We need to increase supply of $ and reduce demand for $ to stabilise the currency. Increase supply of $ is a medium to long terms process that will require promotion and agressive growth of locally produced everything and manufacturing and exports which we have refused to do with policy interventions. The business community and policy makers have also become lazy and comfortable encouraging the importation of everything. Curbing demand will require the $ to become expensive and Cedi to fall to levels that will reduce buying power of everything imported and in turn demand for the $ to bring a natural balance between supply and demand of dollars. We love everything imported. We want to look imported. We love imported hair, we love imported eyelashes, we love the most expensive cars, the most expensive homes and finishings, the most expensive designer bags and clothed and basically imported everything and so we must pay the price for it. No meeting will solve that. To get out of this mess for the long term the Ghana cedi needs to fall to a level where we learn and appreciate to use $ to buy what we need and not what we want.

  reply