Kojo Oppong Nkrumah, the Minister of information, has said that the Bank of Ghana and government have initiated a series of consultations aimed at curbing the rapid depreciation of the Ghana cedi.
The Ghana cedi has depreciated by 37.5%, 24.1% and 27.5% against the US dollar, the pound, and Euro, respectively in September, the central bank said in its Monetary Policy Report early October 2022.
Nkrumah said the consultations began today (Monday 24 October 2022) with the Bank of Ghana meeting with heads of banking institutions and forex bureau operators.
He noted that on the part of government, the Economic Management Team, chaired by Vice-President Mahamudu Bawumia will also hold a series of meetings and receive a briefing from the Bank of Ghana after its engagement with banks and forex bureau operators.
According to him, government’s consultations will end with a cabinet retreat. President Nana Akufo-Addo, the minister said, will then address the nation on the measures taken by his government to address the economic hardship in the country.
