Banking Consultant and Economist, Dr. Richmond Atuahene, says Ghana could derive significant benefits if the current appreciation of the cedi against major foreign currencies is maintained over the long term.
His comments follow the recent strengthening of the cedi, which is currently trading at around GH₵12.40 to the U.S. dollar. The appreciation has been attributed to improved foreign exchange inflows, increased gold exports, and enhanced fiscal discipline.
Speaking in an interview with Bernard Avle on The Point of View on Channel One TV, Dr. Atuahene highlighted the importance of currency stability for the broader economy, particularly in terms of economic planning and business confidence.
“The currency appreciation, if it happens to be a long-term, it is one of the best things that could happen to us for a very long time. Because we have been in this situation for a very long time. But if we can continue to sustain the stability of the cedi,” he stated.
Dr. Atuahene further noted that sustaining such stability hinges on maintaining key economic fundamentals.
“There are cardinal things—stable exchange rate, lower inflation, lower fiscal deficit, if you get all these components in, then your currency will be as good as anything, and that is good for businesses, import planning,” he said.
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