Business News of Tuesday, 19 March 2019Source: citibusinessnews.comPlanned IMF exit causing investors to hold back funds as cedi suffersEconomist, Dr. John KwakyeEconomist and consultant Dr. John Kwakye has stated that Ghana’s planned exit from the International Monetary Fund (IMF) programme next month has created uncertainties among some investors, contributing to the fall of the cedi against the dollar. According to him, some investors who are willing to bring their funds into the country are unsure of how events will turnout in the country after an Extended Credit Facility programme with the IMF ends in April. He argued that this has made some investors hold back their funds, anticipating how managers of the country will manage the economy in a post-IMF regime. Meanwhile, a Former Director of the National Development Planning Commission, Dr. Nii Moi Thompson stated that taxes on trade-related activities also serve as a disincentive to export. The cedi has seen over 12 percent depreciation this year.

Source: GhanaWeb March 19, 2019 06:00 UTC