Business News of Saturday, 16 March 2019Source: Myjoyonline.comCOCOBOD money not solution to free falling cedi – BentilKofi BentilPrivate legal practitioner, Kofi Bentil has said cash from the Cocoa Syndicated Loan will not help in solving the problem of the depreciating cedi. If it could, he noted, previous governments would have succeeded at arresting the free fall of the cedi in previous years through the same means. The cedi has currently crossed ¢5.62 to a dollar compared to GH¢4.42 in the same period last year and GH¢4.27 in January 2017. For a country that is greatly dependent on imports, many fear the depreciating cedi will only get worse if long term measures are not put in place to check it. “What the cedi rate reveals is that there is something fundamentally wrong with our economy and I don’t think we have understood it.

Source: GhanaWeb March 16, 2019 12:33 UTC