Cedi stability and dedollarisation: A new sense of monetary security

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• Earl 3 hours ago

  The current central bank valuation of the cedi is window dressing. You cannot actually buy dollars for 10 cedis anywhere. Try buying $1,000 in your local bank. You won't get it. You must go to the black market where it is muc ...
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  The current central bank valuation of the cedi is window dressing. You cannot actually buy dollars for 10 cedis anywhere. Try buying $1,000 in your local bank. You won't get it. You must go to the black market where it is much more expensive.
  
  The artificially strong cedi hurts Ghana's export. You won't get export led growth unless you let the cedi depreciate. Currently, Ghana imports even mangos (a lot of them, actually). Furthermore, big resources are probably squandered on buying cedis, using the state's limited supply of gold and dollars.

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