For months now there have been many calls on the government to make changes to those appointed to govern. With the economy walking on a slippery slope and living conditions getting worse with the day, many have called for some changes in government. The government has run to the IMF for funding but experts say this assistance will come in 2023.
One of the clear signs of a failed economy is the strength of the country’s currency. Currently, the Ghanaian cedi is slipping every day with President Akufo-Addo, Mahamudu Bawumia and Ken Ofori Atta sitting aloof. Prior to the 2016 elections, Bawumia was touted as the economic messiah and in a series of lectures demonstrated his ability to revive the cedi to match the dollar.
Six years down the line and the cedi has depreciated so much. The dollar is now trading for over 9 cedis and many anticipate that by the end of the year $1 will go for 10 cedis. Externally, the cedi continues to perform badly and has moved to the bottom of worse performing currencies. As of August 8, 2022, Joy News revealed that the Cedi is last on the worst performing currencies placing 22nd on the list. The list sees Botswana, Mauritania, Uganda, Sudan, Egypt, Sierra Leone, Malawi and Ghana as the worst performers.
This revelation has attracted a number of reviews as Ghanaians debate what has caused the cedi to fall this way. Check out some of them.
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