It seems unlikely that the nation will go back to a time when the cedi depreciated steadily – Asiama

Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd

Governor of the Bank of Ghana, (BoG) Dr Johnson Asiama, says the country is unlikely to return to the period of persistent cedi depreciation as ongoing economic reforms continue to strengthen confidence in the economy.

Addressing the media after the central bank’s 130th Monetary Policy Committee meeting in Accra, Dr. Asiama said recent gains in the foreign exchange market reflect stronger economic fundamentals and coordinated policy interventions.

“We do not foresee a return to the era of sustained depreciation of the cedi,” he assured.

According to the Governor, improved foreign exchange inflows, rising reserve buffers and fiscal discipline have played a major role in stabilising the local currency in recent months.

Source: newsthemegh.com