22August2014

Business in Ghana

Veep responds to critism about decline of cedi

Vice President Amissah Arthur has called on economic journalist to explain to the public indices of economic development.

He said the decline of the cedi against the major trading foreign currency is a nominal effect which means the situation is not as bad as being speculated.

 

At a meeting with members of economic journalist in Accra, Mr. Amissah Arthur explained that Export earning potentials show the decline of the cedi is not as bad as being speculated.

He however said the sudden decline of the exchange rate is a source of worry to the monetary policy committee and as such the committee has taken some measures which will soon see cedi almost trade at par with other foreign currencies.

He said there is the need to look at the potential export earnings of the country and how it discourages import.

Source: Gold Business Report || Lauratu Omar