Fix Ghana
US $1 Equals GHS 10 as Ghana Currency Breaks Depreciation Records
Breaking News: US $1 Equals GHS 10 as Ghana Currency Breaks Depreciation Records
Fix The Country Ghana understands the Gh cedi fell 1.6% on Tuesday, extending this year 2022 slump to 35% and making it the world’s worst performer among the 150 currencies tracked by bloomberg.
It’s not easy to run a country, when political parties are in opposition they have all the solutions and insult the party in power but when they come in power it’s the same story. Ghana needs to heavily invest in agriculture, manufacturing and energy and stop relying on its raw commodities. The borrowing is too much and people aren’t seeing or feeling the results of this.
“When the fundamentals are weak, the exchange rate will expose you”!
Ghana’s national currency (GHS) is trading near a record low and a long-term momentum indicator shows it’s at risk of further depreciation
The problem in Ghana right now is we don’t seem to know how to remove a bad president lawfully like impeachment in the US and UK. So when they’re in power, there’s no hope for the people.
US $1 Equals GHS 10 as Ghana Currency Breaks Depreciation Records
Ghanaian currency from time memorial and times it has been stabled and depreciated. Why and the cons of depreciation. Many people don’t know why the cedi is depreciating. And maybe a bonus on a case study of any African country that has a better currency and how they made it possible. Secondly, believing the words of a politician thirsty for power especially, is equal to believing in kweku ananse stories. These people are con men! They know the right words for the ignorant citizens at the right time.
Thirdly, for a country that is exporting toothpicks and many food commodities (even though they can easily be grown and preserved in Ghana) from Countries that spend currency higher than the cedi, we can’t appreciate the cedi at any point. Ghana also spends other currencies like many entities charged in dollars i.e. hotels in Ghana and exchange rate in cedis. That’s nonsense and until we get our shit together by those in charge with the right knowledge, the cedis will continue falling.
Please tell Russia and Ukraine to stop the fight; Ghanaians are suffering!
The Bank of Ghana is the second in sub-Saharan Africa after the Bank of Uganda to hold an emergency meeting since Russia’s war with Ukraine erupted in February.
Lastly, we don’t have price control over commodities on the international market.
As Ghana’s monetary policy committee met, a new set of data showed that inflation may accelerate further in the coming months. Accra Ghana’s producer prices in July jumped 41.2%, the fastest pace in eight years. The worsening economic situation may spur the central bank to raise its policy rate by 200 basis points to 21% Wednesday, according to predictions by economists at Goldman Sachs Group Inc.
My concern with this transfer system is the fact it seems to be one way… always send to Ghana but never us sending to Europe or US. What is the real problem? These are all part of the reasons the CEDI keeps depreciating…. foreign currencies are trooping in… but no local currency leaves our country… What is wrong with our financial system? It takes a minute to receive money from the states, and yet 3 days to say the least to be able to transfer money to someone in the States. It’s disgusting that this is our national situation in 2022.
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Rising inflation: One US Dollar Equals 10 Ghana Cedis as Ghana Currency Breaks Depreciation Records
It’s good for those who have the money and a big problem for the poor
One of the major problems about this new currency is that we don’t value the coins. Everyone wants to hold the papers
When you go to Europe, it doesn’t work that way
You can’t buy something and say “I am left with 1 cent and go away with it”
That 1 cent is the seller’s profit.
The old currency was far better and I will always say it
To even get 5000 cedis of the old currency wasn’t easy
But now if you go to the market to buy something, they will say 5 cedis, which some of these sellers think it’s the old currency (5000 cedis) but rather it’s x10
I am not into politics but ex-president Kuffour and his team brought a big problem to Ghana.
We can’t compare ourselves to America and Europe because they are educated and they value their currency
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GH One Tv Host Nana Aba Anamoah Writes open Letter to Ken Finance Minister Ofori Atta.
Dear Ken Ofori-Atta,
on any day I’d like to see through this Friday with excitement, do well with my commitments and settle in for a weekend of relaxation with full knowledge that all is good.
But you have decided to undo all of that.
Thanks to you, millions of Ghanaians and business owners have been robbed of honest gain for honest work.
Ghana 2022 Budget Statement and Economic Policy: Finance Minister Ofori Atta
Your incompetence has seen the value of our work depreciate at an alarming rate.
Before this week, depreciation was over 40 percent and inflation also close to that same percentile.
A cursory glance at everything and it’s another reason to be angry because you have willfully provoked us with your abysmal management.
At the National Forum on the Economy at the Accra International Conference Centre in 2017, you were unambiguous that you will work tirelessly to ensure all Ghanaian businesses flourish courtesy your competent leadership. I believed you. So did many Ghanaians.
Six years down the line your fruits are bitter and eery.
Before you gasp and reach for an explanation, don’t stretch and touch the COVID pandemic plus the Ukraine Russia crisis as a wall for balance and your cushion for solace. You lot sound like a broken record.
The world suffered same but your imprudent borrowing taste and wasteful use of those flammable funds has led us to this point.
The economic heat has broken the thermometer this week. The heartbeat has a new competitor in the Ghana Cedi. It is beating faster than the throb of the spongy organ. And you unashamedly ask us not to panic? Wow!
You may be in the company of finance ministers at the IMF Spring Meetings and looking for that “miracle” with your negotiations. But the ‘Ghanaian’ brother you sat next to, Kwesi Kwarteng, has fallen on his own sword for introducing policies which could have further crippled the British economy. He took the early steps to a political fiasco before his boss and now former PM, Liz Truss followed suit.
You on the other hand against all the clear public wails of the majority of your people continue to hold on to a job you’ve woefully failed at and leading a process you don’t believe in (going to the IMF) after failing to properly introduce a new tax line, E Levy and borrowing us out of the international financial market.
Hmmm. Maybe a part of you wants to leave and your cousin is backing you to the hilt on the altar of loyalty.
But for God’s sake, spare the entire nation this prolonged spectacle of failure and let go of the burning rod.
If you were leading a private company managing private funds with this current performance you probably would have walked. In fact, you would have been fired. This time it’s public funds and the stretch of the impact is much more.
Alex Vignet’s words ring true that “resignation is the courage of Christian sorrow”. All Ghanaians are weeping and as a devout believer, wouldn’t you rather resign and save us all from further ignominy?
Sigh!!
Regards,
Citizen Nana Aba Anamoah
The center cannot hold, things have fallen apart. His fruits are bitter and eery indeed. God Bless you for this wonderful letter, , Madam.
Nana Aba Anamoah, you couldn’t have said it better. Thanks for always speaking for voiceless. We appreciate you for what you’ve been doing for mother Ghana. Allah bless you!!!!
Nana Aba Anamoah letter to Ofori Atta , I like this. It takes a person with great courage to compose a write-up of this kind, and this clearly defines you as one.
Kudos!!!
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Are you planning a trip to GHANA? Check out 4 Reasons Why Accra Ghana is an Amazing Tourist Destination.
We are talking about some basics every Westerner should know about Ghanaian culture. If you are planning your first visit to Ghana or you’re making arrangements for living in Ghana as an expat, there are some things you need to know such as Ghanaian culture and traditions you want to make sure to learn. You will love hearing some helpful information about Ghana culture before you travel to Africa.
The humility piece is so important but I think that applies no matter where you are. And, also being respectful of people and their culture.
Here are 4 Reasons Why Accra Ghana is an Amazing Tourist Destination.
1. Gh is relatively a safe country
Mauritius and Ghana are the safest countries in Africa (some developed western countries have higher crime), great to see an African country progressing so well, look forward to visiting some day!
Ghana, officially the Republic of Ghana, is a popular country in West Africa. It borders the Gulf of Guinea and the Atlantic Ocean to the south, sharing borders with Ivory Coast in the west, Burkina Faso in the north, and Togo in the east.
The U.S. has enjoyed good relations with Ghana at a people-to-people level since Ghana’s independence in 1957.
That said, the Americas is becoming a frightening place for black people.
What is Ghana famous for?
In addition to being known for its rich forests, diverse animal life, and miles of sandy beaches along a picturesque coast, Ghana is also celebrated for its rich history—its habitation possibly dating from 10,000 bce—and as a fascinating repository of cultural heritage.
I can definitely say I love Ghana more as a country, I could see living there, everyone is so nice, the food is always fresh, and you can live like a king if that’s what you want.
2. Nigerians love Ghana
“I stayed in Accra Ghana for 1 month volunteering and traveling to different parts of the country such as Kumasi, Accra circle, Bolgatanga, Northern region and Cape Coast which is one of my favorite places ever! I simply fell in love with the people and the peaceful atmosphere the place radiates. When I went, Ghana wasn’t as trendy as it is now but I’m so happy the country is receiving the recognition it deserves. As a proud Nigerian, I’ve always said I can Live in Ghana but not Nigeria (just my opinion!) but we’ll see where life takes me”, Nigerian residents express love for Accra Ghana.
4 Reasons Why Accra Ghana is Amazing Tourist Destination
You gotta appreciate the culture’s lax approach to timings. People stop and do things on the way and see friends and will stop and chat. They don’t do it because they don’t respect you but because that is just their way of life. I remember being in a bar with my local friend and a guy on his way to perform errands saw us and he stopped and had a drink and a chat for 30 mins with us. So he definitely took a while to get to his original destination.
3. Ghanaian hotels and Aqua safari are amazing destinations for travelers
Felicia Ireland says, Ghana is amazing! Kempinski is AMAZING! Aqua safari was amazing! I prefer Nigerian jollof. Year of return has me wanting to move there permanently! I had the most amazing experience of my life in Ghana. I can’t wait to go back.
LOve my Ghana so much. The culture, the bargaining skills, how fun the people are, the food and above all, our very own almighty GMT 😂. Life in GH is pretty laid back and I love it. No rush. Good job, Stay blessed, till next time.
4. Foreign tourists enjoy fun times in Ghana
“I was in Ghana last summer for two weeks and had the best time of my life. So, I’m just gonna put it out there…when I was in the markets and someone wanted to sell me a bracelet for 50 cedis, or about eight bucks, did I sweat it and say, hey I’ll give you 25? Hell no. I gave him or her the 50 cedis and we laughed and joked about it and I felt good about it. Do you honestly want to deny giving someone an extra few dollars? Tourist dollars are low now, and food prices are going up. I love Ghana!” Rick Bunte PRAISES WestAfrican star Gh.
Is Ghana more Amazing than Jamaica?
Kingston man Johnny Carson says: “Both being former British colonies the culture like greetings and stuff are the same. The corruption is the same, the haggling over price and a different price for foreigners is the same. The biggest difference is the crime rate; it’s much worse in GH. I started coming here 49 years ago so when I moved here 9 years ago, I knew what I was getting into. The reason I prefer Jamaica is it’s only 4 hrs to Chicago. We also don’t have Ebola although I did catch a mild case of dengue fever here. And COVID 3 times after vax. The transportation is the same as taxis and buses over crowded. It’s always squeezed up. No wonder I got COVID 3 times. My doctor loves his home country and tells me about it a lot.
What are 5 interesting facts about Ghana? Beaches, waterfalls, gold, cocoa, and ethnic diversity.
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“I will choose Ghana Card over 1000 interchanges” – Ghana Vice President Bawumia poked fun at NDC.
Vice President Dr Mahamudu Bawumia has chosen sides when it comes to infrastructural development and Ghanaians acquiring unique identitification numbers.
I will choose Ghana Card over 1000 interchanges – Bawumia said.
Give this guy the rest of his life to be the president and he will come back and tell you about his inheritance. A non-performer always looks out for excuses and not solutions. Hmmmmm, a ceremonial president. I personally think he can do himself some good and stop talking. `He is just irritating every Ghanaian, including his own party members.
Ghana Card to be recognized globally as an E-passport next year – Bawumia claims.
Bawumia trends on social media for choosing Ghana Card over 1,000 interchanges.
Can’t believe there were people around who refused to let him realise how stupid his comment was but rather went ahead to clap for him.
If we fix our misplaced priorities in this country first, then we can start the talk of Ghana card and National Cathedral. Does the Gh card stop road accident due to poor roads? Does it heal people and stop people from sleeping on floor when there are no beds in our hospitals? Does the Gh card fix the Korle bu mortuary? Among numerous issues in this country, then we can have the Gh card talk! If the card doesn’t solves all these problems, then I think the Gh card issue should be secondary in this country! These developed countries we always compare gh to do not have misplaced priorities. We talk of underground train station and amazing things going on in these developed countries and I am sure their resident card has got nothing to do with it. After all there are illegal immigrants in these countries. So how about that? Sorry for the long talk but I think we are tired in this country.
Ghana card is a significant thing but it’s a shame it came this late. Damn, this vice president needs some type of assistance in evaluating his ideas. Comparing an identity scheme to infrastructure development? I pray this man comes no where near wanting to be the actual president. I can’t believe he’s a Dr. Damn! Why is Ghana like this? How the hell do all these weak-minded people end up in office? It seems all you have to do is join a political party, have some sort of degree and then ask to be voted into office regardless of whether you’re dumb or not. Common sense is better than book sense.
The Ghana card is great, but he should have explained to Ghanaians the relevance of it. And also in this trying time of the economy, the statement of the Ghana card to the interchanges were not what Ghanaians needed to hear.
if the Ghana card is implemented well. it can solve a lot of issues in this country like access to finance for entrepreneurs, student loans, tax collection, paying pension, easily track down and issue fines to indiscipline drivers since all their financial data will now be linked to the card.
If an identity card is important than dévelopements then Ghana is doomed. Identity card is just for administration works. Ce fini. Instead of them creating jobs for the citizens and get paid, they say what. Keeping an ID card in your pocket without work to do is baseless. Those of OUR BROTHERS and sisters living in Europe and America are working to survive not just because they have ID cards in their pockets. The national ID card or Résident card helps to find a job but when you sleep with the card you will die of hungar. And no bank in this world will give you a loan because you have a national ID card. You have to find yourself a job first. So Bawumia and his government should creat jobs for the People.
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