Business News of Thursday, 28 March 2019Source: 3news.comInjecting dollars to stabilise cedi most useless – Kwame Pianimplay videoKwame Pianim was the first speaker at the 2nd Economic Dialogue SeriesEconomist Kwame Pianim has rubbished the injection of dollars by the Central Bank to stabilize the Cedi. Kwame Pianim was speaking at the Media General-organised Economic Dialogue Series on the theme ‘The Ghana Cedi, breaking the cycle of depreciation’. The veteran economist is of the view that government should rather have long term measures to stabilize the Cedi rather than the short term approach such as injecting dollars. The Central Bank recently announced the injection a minimum of $800 million into its reserves to stabilize the local currency. “The Central Bank injecting some dollars into the economy to stabilise the Cedi is the most useless use of our hard-earned money.”The Ghana Cedi has since the beginning of the year lost some 3.6 per cent of its value to the US dollar.

Source: GhanaWeb March 28, 2019 18:11 UTC