Govt’s Cedi depreciation figures for 2023 inaccurate – Joe Jackson

Joe Jackson, acting CEO of Dalex Finance, has challenged the cedi depreciation figures presented by Finance Minister Dr. Mohammed Amin Adam.

The minister claimed the cedi's depreciation against the US dollar decreased from 54.2% in November 2022 to 27.8% in December 2023.

He also projected further strengthening post-domestic debt exchange program. However, Jackson, speaking on Eyewitness News, argued the minister's figures were inaccurate, citing different rates from the Bank of Ghana and xe.com.

He noted that the cedi's depreciation rate was around 24%, reflecting a weaker cedi that impacts daily expenses.