MONETARY POLICY ANALYSIS AND OUTLOOK: TOP 5 FACTORS BEHIND THE RECENT GHANA CEDI APPRECIATION
And he concludes:
“My conclusions regarding all of the fiscal and monetary tactics and strategies that the government of Ghana is employing to address the myriad of economic issues facing the nation can be broken up into two main categories and they as follows: Socio-Economic and Political”
This article simply seeks to explore the nature and reasons, behind the current Ghana Cedi appreciation against the US Dollar and its potential impacts on the Ghanaian economy and its citizens.
Second Tranche of the IMF Balance of Payment Support: The Ghana government recently passed the first review of the US $918 IMF Program based on perceived positive benchmark performance of the programs key metrics on fiscal and monetary consolidation. As a result, the second tranche of the cash inflows from the IMF to the Government of Ghana is scheduled to be released in august as planned. The $115 million due in August is vital to shore up a currency that has fallen to record lows and also to convince international investors.
Ghana received $114.8 million in a Balance of Payments support in the first tranche of the program. It is important to note that, the initial cash injection from…
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