05
Apr
Economic Analyst, Kweku Arkoh-Koomson, is projecting a stable cedi in the near term following the successful completion of the external debt restructuring. The Ghana cedi gained 3.11% to the US dollar last week to narrow its year-to-date losses on the forex or retail market to about 17%. “As we wait for an IMF deal this second quarter, we observe that government in the 2023 budget reiterated that the budget will be financed by non-concessional loans. Looking at how these non-concessional loans will also boost local reserves and improve FX liquidity, if nothing at all, the cedi will stabilise,” he said.…