• About
  • Advertise
  • Privacy & Policy
  • Contact
JoyNewsRoom
  • Home
  • News
  • Entertainment
    PICTURES: Lil Win ties the knot in beautiful traditional ceremony

    PICTURES: Lil Win ties the knot in beautiful traditional ceremony

    Jackie Mensah: I used to prank call Yvonne Nelson when I was seven

    Jackie Mensah: I used to prank call Yvonne Nelson when I was seven

    I didn’t go to the VGMAs because I’ve been busy promoting my album – Kwesi Arthur

    I didn’t go to the VGMAs because I’ve been busy promoting my album – Kwesi Arthur

    VIDEO: Rihanna to launch Fenty beauty products in Africa

    VIDEO: Rihanna to launch Fenty beauty products in Africa

    VGMA Artiste of the Year win is a dream come true–KiDi 

    VGMA Artiste of the Year win is a dream come true–KiDi 

    Kwesi Arthur’s ‘Drama’ enters Billboard US Afrobeats chart

  • Politics
  • Local
  • Sports
  • World
No Result
View All Result
  • Home
  • News
  • Entertainment
    PICTURES: Lil Win ties the knot in beautiful traditional ceremony

    PICTURES: Lil Win ties the knot in beautiful traditional ceremony

    Jackie Mensah: I used to prank call Yvonne Nelson when I was seven

    Jackie Mensah: I used to prank call Yvonne Nelson when I was seven

    I didn’t go to the VGMAs because I’ve been busy promoting my album – Kwesi Arthur

    I didn’t go to the VGMAs because I’ve been busy promoting my album – Kwesi Arthur

    VIDEO: Rihanna to launch Fenty beauty products in Africa

    VIDEO: Rihanna to launch Fenty beauty products in Africa

    VGMA Artiste of the Year win is a dream come true–KiDi 

    VGMA Artiste of the Year win is a dream come true–KiDi 

    Kwesi Arthur’s ‘Drama’ enters Billboard US Afrobeats chart

  • Politics
  • Local
  • Sports
  • World
No Result
View All Result
JoyNewsRoom
No Result
View All Result

I pray cedi will depreciate again… Fifi Kwetey

JoyNewsRoom by JoyNewsRoom
March 21, 2019
in Business
0
I pray cedi will depreciate again… Fifi Kwetey
6.1k
SHARES
4.2k
VIEWS
Share on FacebookShare on Twitter

A former Deputy Finance Minister under Mills administration, Fifi Kwetey says the recent appreciation of the cedi is only temporary and will depreciate again.According to him, the government’s capital injection into the economy as a means to stop the currency from depreciating, will not solve the challenges with the economic fundamentals responsible for the currency’s depreciation.

Speaking on Eyewitness News on Wednesday, the Ketu South Member of Parliament said the government took a similar action in 2018 to stabilize the currency when it was being exchanged at about GHc 4.7 to a dollar, but that stability was short-lived.

“It is like you are suffering from a serious ailment and then you are given pain reliever and over the period, the problem seems to have gone, but the problem is still there. If around September, it was pushing towards GHc5 and as a result of the coming in of the cocoa receipts, it stayed around GHc4.7, what happened? Within no time, it went beyond the GHc5 and now pushing towards GHc6 in spite of the injection that happened last year,” he said.

The value of the cedi until earlier this week had greatly reduced, sparking concerns of serious economic challenges.

At a point, it was trading at GHc 5.80 to a dollar but it began gaining strength this week after a government intervention which was actually expected to yield evident results within two weeks.

The Minority in Parliament has already discredited the development but the government has been quick to tout the achievement which it says is an indication of a stronger economy.

But Fifi Kwetey says the improvement being seen with the cedi will not last.

“This temporary injection that has taken place is basically going to have the same effect [as last year]. They did that, thinking that somehow that is going to lure the people into a certain sense of security but that security will be short-lived,” he said.

–

By: Sixtus Dong Ullo | citinewsroom.com | Ghana

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on WhatsApp (Opens in new window)
Previous Post

Trade Ministry begins work to make Ghana most business friendly

Next Post

Call for new budget premature – Finance Ministry

JoyNewsRoom

JoyNewsRoom

Next Post
Call for new budget premature – Finance Ministry

Call for new budget premature – Finance Ministry

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

ADVERTISEMENT
  • Trending
  • Comments
  • Latest
We will abolish Free SHS completely- General Mosquito.

We will abolish Free SHS completely- General Mosquito.

October 2, 2018
Felix Ofosu Kwakye’s Properties Auctioned.

Felix Ofosu Kwakye’s Properties Auctioned.

April 18, 2019
2016 Defeat: Aseidu Nketia and Co looted campaign funds- Mahama

2016 Defeat: Aseidu Nketia and Co looted campaign funds- Mahama

September 26, 2018
Fallouts from NDC Demo: Joshua Akamba and Sammy Gyamfi in near blows over GHc 300k Demo cash.

Fallouts from NDC Demo: Joshua Akamba and Sammy Gyamfi in near blows over GHc 300k Demo cash.

January 11, 2020
NPP will have a difficult time marketing any other candidate besides Dr. Bawumia in 2024

NPP will have a difficult time marketing any other candidate besides Dr. Bawumia in 2024

1
Bawumia acts as President as Akufo-Addo embarks on 10-day working visit to France, Guyana, Belgium, Germany, UK

Bawumia acts as President as Akufo-Addo embarks on 10-day working visit to France, Guyana, Belgium, Germany, UK

1
NABCO Outlines Exit Plan for the Remaining 67,657 trainees to MPs

NABCO Outlines Exit Plan for the Remaining 67,657 trainees to MPs

1
I haven’t endorsed any NDC candidate; Rawlings fumes

I haven’t endorsed any NDC candidate; Rawlings fumes

0
Ephson: Kufuor’s father’s day comments positive for Bawumia’s campaign

Ephson: Kufuor’s father’s day comments positive for Bawumia’s campaign

June 22, 2022
Sonnie Badu: Alleged National Cathedral US$ 50,000 payment false

Sonnie Badu: Alleged National Cathedral US$ 50,000 payment false

June 22, 2022
Opoku-Mensah: Otabil still interested in National Cathedral project

Opoku-Mensah: Otabil still interested in National Cathedral project

June 21, 2022
There will be no food shortages in Ghana, says Agric Ministry

There will be no food shortages in Ghana, says Agric Ministry

June 21, 2022

Recent News

Ephson: Kufuor’s father’s day comments positive for Bawumia’s campaign

Ephson: Kufuor’s father’s day comments positive for Bawumia’s campaign

June 22, 2022
Sonnie Badu: Alleged National Cathedral US$ 50,000 payment false

Sonnie Badu: Alleged National Cathedral US$ 50,000 payment false

June 22, 2022
Opoku-Mensah: Otabil still interested in National Cathedral project

Opoku-Mensah: Otabil still interested in National Cathedral project

June 21, 2022
There will be no food shortages in Ghana, says Agric Ministry

There will be no food shortages in Ghana, says Agric Ministry

June 21, 2022
JoyNewsRoom

Wherever, Whenever and However, we report to our readers exactly as it happens

Follow Us

Browse by Category

  • Business
  • Education
  • Entertainment
  • Featured
  • General
  • Health
  • Lifestyle
  • Local
  • News
  • Opinion
  • Politics
  • Sports
  • Uncategorized
  • World

Recent News

Ephson: Kufuor’s father’s day comments positive for Bawumia’s campaign

Ephson: Kufuor’s father’s day comments positive for Bawumia’s campaign

June 22, 2022
Sonnie Badu: Alleged National Cathedral US$ 50,000 payment false

Sonnie Badu: Alleged National Cathedral US$ 50,000 payment false

June 22, 2022
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2018 JoyNewsRoom Crafted by Creative Consult.

No Result
View All Result
  • Home
  • News
  • Entertainment
  • Politics
  • Local
  • Sports
  • World

© 2018 JoyNewsRoom Crafted by Creative Consult.