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Cedi Will Appreciate This Festive Season – Dr. Duffuor   
 
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25-Nov-2012  
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The Finance Ministry has told Citi Business News it is not only expecting the Cedi to just stabilize against the Dollar in the festive season but will also appreciate marginally.

Pressure on the currency around this time of the year coupled with inflationary pressures sometimes causes the Cedi to depreciate.

The Finance Minister Dr. Kwabena Duffuor has however insisted that the positive trend will even continue into, at least, the first quarter of 2013.

He gave the assurance that measures have been put in place to “out stem this Cedi depreciation. It will upon even the micro economic environment, all the measures are working and yes, the first six months of the year, the Cedi was wobbling but from August, it’s been not only stabilizing but appreciating.”

“After the first six months of the year, the Cedi did depreciate at about 15 percent but since August, we have seen about two, three percent appreciation. I expect the Cedi to appreciate at least by one percent between now and the end of the year,” he explained.

Dr. Duffuor said his outfit is perceiving physical consolidation policies since 2009 and at the same time, “growing the economy so the two are not contradictory and in 2013, we should pursue the same policy. If we do that the Cedi will be strengthened and inflation will go down.”



 
 
 
 

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