The Institute of Economic Affairs (IEA) has expressed its apprehension regarding the continuous instability of Ghana’s Cedi.
The IEA pointed out that the cedi has depreciated by 99.99% from 1983 to 2024, attributing the blame to successive economic managers for their inability to tackle the cedi issue effectively.
The IEA underscored the lack of proactive measures by policymakers to strengthen the cedi, criticising them for their reactive approach of waiting until the situation escalates before taking action.
In a press statement released by IEA dated Monday, May 20, it further raised apprehensions on Ghana’s reliance on the International Monetary Fund (IMF) and funding from development partners to stabilise Cedi, describing the approach as “unsustainable”.
The IEA argues that Ghana’s several encounters with the IMF have not yielded any lasting stability to the cedi.
Source: Mybrytfmoline.com
