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Cedi has been stable for past three years – Finance Ministry


The Director of Financial Sector Division at the Finance Ministry, Sampson Akligoh has said the Ghana Cedi has enjoyed stability for the past three years.
The Ghana cedi has over the years been a subject of serious debate among political actors as it performed poorly against major currencies such as the US dollar.
Citing the year 2017, 2018 and 2019 as a case study, Sampson Akligoh said the government over the past three years has put in much work to ensure the stability of the local currency.
He spoke in reaction to the FX Development Committee which was set up by government recently to recommend on how to stabilize the cedi.
“And what I am saying is that if you look at 2017, you look at 2018, you look at 2019 and you take the average, in terms of comparison, this is one of the most stable periods of the currency and I am explaining to you that a lot of work has been done on day to day basis to stabilize the currency and I am trying to tell you that this committee which is the most important thing is looking into the future of the currency.
“It is not looking at the daily management of the currency because we need to make decisions that will ensure that we establish a near-equilibrium for the cedi.”
source|citinewsroom.com
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