It seems Cedi has been completely abandoned to find its own level – John Kwakye

Dr. John Kwakye, Director of Research at the Institute of Economic Affairs, has called for a national dialogue to address the rapid depreciation of the Ghanaian cedi.

He urged economists to propose solutions, expressing disappointment over their inaction as the cedi loses value.

Currently, the cedi stands at GH¢16.40 to the US dollar, reflecting a year-to-date decline of approximately 26%. This depreciation is attributed to increased corporate demand and Eurobond coupon payments.

Despite a recent Central Bank FX auction accepting $51.4 million in bids, the cedi continued to weaken against major currencies, highlighting the urgent need for effective intervention.