Economist praises gov’t’s short-term measure to deal with cedi depreciation

Economist praises gov’t’s short-term measure to deal with cedi depreciation

An economic consultant, Dr. John Kwakye, has claimed that the short-term interventions by the government to deal with depreciation are very laudable.

According to a report by Citinewsroom.com, he explained that there is currently a storm taking place and it is essential that there is a need for a collaborative effort to calm it.

He went on to say there is the need to inject foreign exchange into the system, as is done whenever there are shocks in the system.

A man wearing a suit

Dr. John Kwakye Sources: Prime News Ghana
Source: UGC

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He noted that this was an instance where the problem with the cedi was beyond a discussion of economic fundamentals.

“The central bank intervenes from time to time to counter movements in the exchange rate that are due to temporary shocks and not due to the fundamentals because you can’t resist the effect of fundamentals but when you experience shocks, you can come and try to calm the storm,” Dr. Kwakye said.

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