28
Dec
UK based Economist Intelligence Unit (EIU)is predicting about 22% depreciation of the cedi to the dollar in 2023. This will rank the local currency as the 3rd weakest performing currency on the African continent, according to its Africa Outlook 2023 Report. The EIU expects the exchange-rate weakness to continue into 2023, albeit to a lesser degree. “Most African currencies have lost substantial value against the US dollar during 2022 and we expect exchange-rate weakness to continue into 2023, albeit to a lesser degree”. It maintained that the currencies of the troubled states of Sudan and Zimbabwe will be among the weakest…