Dollarization vs. inflation in Ghana

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• Obiba Kwasi 11 years ago

  Oh my brother, you have made my day- God will richly bless you.

  Oh my brother, you have made my day- God will richly bless you.

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• Kosoko 11 years ago

  I think it can also be the other way round. If people demand more dollar, the price of dollar rises. This affects the capital of importers and therefore imports. This translates into higher prices of goods and services hence ...
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  I think it can also be the other way round. If people demand more dollar, the price of dollar rises. This affects the capital of importers and therefore imports. This translates into higher prices of goods and services hence inflation.

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• VOICE FROM AFAR 11 years ago

  Dear writer, we need sensible people like you to do analysis but not the weak brains. I knew there was something wrong with our hyperinflation rates in Ghana. We are no where near those countries that have gallop inflation, y ...
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  Dear writer, we need sensible people like you to do analysis but not the weak brains. I knew there was something wrong with our hyperinflation rates in Ghana. We are no where near those countries that have gallop inflation, yet we have to do some as soon as possible to stabilize the purchasing power of the Ghanaian citizen. It is not good to have price control because that will lead to other serious consequences such as "KALABULEY" or hoarding. Stabilizing the cedi is more important. As you rightly said, the inflation in our country is mainly caused by fuel consumption which we seem not to be doing anything about. Thank you.

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• ' and Jesus wept ' 11 years ago

  Our immediate goal is to focus on our energy and water production, revamp our industries, adopt Mechanized and plantation farming with irrigation in mind, add value to our produce and curb the importation of what we can produ ...
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  Our immediate goal is to focus on our energy and water production, revamp our industries, adopt Mechanized and plantation farming with irrigation in mind, add value to our produce and curb the importation of what we can produce in our country. Then after, technical and ITT education should be emphasized in our schools to keep pace with growing trends in the world's industry. If we can walk this path, we will bring down inflation to where we will not be talking about dollarization.

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• Tokugawah 11 years ago

  After we have achieved all that you have listed we can put a man on the moon! We have not done it in 57 years and will not do it in the next 57 years. Why do we kid our selves. If substituting our weak currency for the Usd wi ...
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  After we have achieved all that you have listed we can put a man on the moon! We have not done it in 57 years and will not do it in the next 57 years. Why do we kid our selves. If substituting our weak currency for the Usd will bring some stability we should do it. Of course there will be problems but the benefits outweigh the demerits. Of course it will not happen, we are too nationalistic. However, the ordinary person and business community would welcome it.

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• obroni 11 years ago

  Control over a currency is one of the ways to control and influence the economy of a country.
  China kept the value of the Yuan low for decades, which allowed China to their production costs low and thus grew their economy. C ...
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  Control over a currency is one of the ways to control and influence the economy of a country.
  China kept the value of the Yuan low for decades, which allowed China to their production costs low and thus grew their economy. Countries including Ghana, should be very careful to give this control instrument away.

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• JP 11 years ago

  China manipulated the currency. You are wrong

  China manipulated the currency. You are wrong

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• AdaBoy 11 years ago

  The Chinese control only work due primarily to their exporting culture and less dependance on imports.This is not the case in Ghana where our imports range from sewing needles,razor blades,bottled water to computers etc.This ...
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  The Chinese control only work due primarily to their exporting culture and less dependance on imports.This is not the case in Ghana where our imports range from sewing needles,razor blades,bottled water to computers etc.This makes currency control a good tool in the short term.The longterm fix,though,will occur only through fiscal discipline of goverment.Ghana's sovereign risks is just too scary and needs to be rein.

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• Joejoe 11 years ago

  Dd

  Dd

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• alhassan mohammed kamal 11 years ago

  well, in Ghana and elsewhere in africa inflation increases poverty and diseases.politicians should therefore initiate the necessary policies to improve the lives of their people.

  well, in Ghana and elsewhere in africa inflation increases poverty and diseases.politicians should therefore initiate the necessary policies to improve the lives of their people.

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• I see you. 11 years ago

  Far from being short sighted ,each and every person in Ghana who maintains the status quo of 'corruption of office and duty' perpetuate Ghana's currency woes. These are actions undertaken by a poverty conscious society where ...
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  Far from being short sighted ,each and every person in Ghana who maintains the status quo of 'corruption of office and duty' perpetuate Ghana's currency woes. These are actions undertaken by a poverty conscious society where privelege is used for personal gain, not for the greater good. Ask anyone in Ghana, the small small money syndrome is entrenched in Ghanaian society. It is a mentality that wreaks destruction at all levels of business, through to the highest levels of government. It is corrupt money and this fact alone destroys the value of the Ghana Cedis, beyond what would be considered a reasonable level of inflation in a developed country. Sadly, is accepted and tolerated by everyone, abiet sometimes reluctantly. Of course, the underlying price instability in Ghana is the result of many issues, but the driving force is corruption, felt by every person each time they reach for a corrupt Cedi. The currency merely reflects the confidence and underlying integrity of the economy it serves. That is why Ghanaians reach for the dollar.

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