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Company News of Monday, April 15, 2019
Source: Gideon Sarpong
2019-04-15
play the videoKen Ofori-Atta, Minister of Finance
Charlotte Lilly Baidoo, Executive Director of the World Bank for Women in Ghana, commended the efforts of Finance Minister Ken Ofori Atta and his economic management team to stabilize the Cedi against the dollar.
Speaking during an exclusive interview on the Vim Talk Show last Saturday on Adom TV, Ms. Baidoo baderted that "Mr. Ken Offori Atta and his team are doing a good job "although his preferred exchange rate is in the margins of 4 GHC for a dollar.
"For now, what they do is not bad, it's good. All I want is for the cedi to appreciate against the dollar. I think we are all comfortable between 4 GHC and a dollar, but I do not think it's realistic that the cedi appreciates more, "she explained.
Until recently, the value of the cedi had dropped significantly, raising concern over serious economic problems. At one point, it was trading at 5.80 GHC for a dollar, but it began to strengthen a few weeks ago as a result of government intervention.
Ms. Baidoo however cautioned that she thought the depreciation was only "temporal", but she expected stabilization to continue until the end of the year. year.
"I believe what they do is temporal and I hope it will support us until the end of the year. Then the medium and long term measures can be put in place, "she said.
Vim Talk is aired every Saturday at 8:30 pm on Adom TV.
Check out the full interview below:
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