General News of Friday, 3 January 2020Source: www.ghanaweb.comManagement of Cedi exchange rate under Akufo-Addo is the second best in the 4th Republic - CAEWThe group urged the government to institute mechanisms to curb fiscal indiscipline in 2020The Centre for African Economic Watch (CAEW), an African economic research group has stated in a report that the management of the Cedi exchange rate by the government of Nana Addo Dankwa Akufo-Addo is the second best in the country since the 4th Republic which started in 1992. The group, using data from the Central Bank of Ghana, analysed the Cedi-Dollar exchange rate management performance of all seven regimes that have govern Ghana under the 4th Republic from 1992. And the current rate of 8.73% from 2017-2019, recorded under the current government led by Nana Akufo-Addo, represents the second best record in 27 years,” the Centre for African Economic Watch Added. “The report assessed the current Cedi-Dollar exchange rate, stating that without the second best exchange rate record of the current government, the Cedi would’ve slumped further down at an alarming rate. “On face value, traders may not be happy with the current Cedi-Dollar exchange rate, but the current rate is Ghana’s second best depreciation rate under any government in the 4th Republic.

Source: GhanaWeb January 03, 2020 12:00 UTC