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How Ghana’s Agricultural Reforms Will Reduce Trade Deficits and Stabilize the Local Currency – Citinewsroom – Comprehensive News in Ghana

Aziboat2 years ago08 mins

[ad_1] Agriculture is critical to Ghana’s economy, providing jobs, food security, and foreign exchange. However, the sector has obstacles such as low productivity, weak infrastructure, and restricted finance, which result in a trade deficit and currency volatility. Agricultural reforms seek to increase productivity, efficiency, and sustainability by improving access to financing, technology, and markets, as…

Adopt currency board to replace Central Bank system

Aziboat2 years ago04 mins

[ad_1] The Institute of Economic Affairs (IEA) has recommended that the Bank of Ghana (BoG) consider implementing a currency board in place of the existing central bank system. The IEA posits that this approach will aid in maintaining the Cedi as a legal tender, emphasising that the currency board would ensure that Cedis in circulation…

Zimbabwe unveils new currency as depreciation, inflation stoke turmoil

Aziboat2 years ago04 mins

[ad_1] Zimbabwe on Friday launched a new currency to replace its previous one that in recent months has been battered by depreciation, and in some instances rejection by the population. Authorities hope the new measure will halt a currency crisis underlining the country’s yearslong economic troubles. Reserve Bank of Zimbabwe Gov. John Mushayavanhu said the…

African Nations Monetary: 20 Reasons Behind the Hesitancy to Adopt a Unified Currency

Aziboat2 years ago2 years ago08 mins

Africa, a vast and diverse continent, is home to 54 independent countries, each with its own unique history, culture, and economic challenges. While the idea of a unified currency to promote economic integration and development across Africa may seem enticing, there are numerous obstacles that hinder the continent from embracing this ambitious endeavor. In this…

EIU revises cedi depreciation to dollar forecast to 23% in 2023; currency to remain 3rd weakest in Africa

Aziboat2 years ago2 years ago02 mins

[ad_1] The Economist Intelligence Unit has revised its projected depreciation of the cedi to dollar in 2023 to about 23.0%, from the earlier 30.0%. According to its 2023 Updated African Outlook Report, this will place the local currency as the third weakest in Africa this year. That was a business desk report According to the…

Let’s double our efforts towards single currency by 2027 – Bawumia to WAMZ Member States – MyJoyOnline.com

Aziboat2 years ago07 mins

[ad_1] Ghana’s Vice-President, Dr Mahamudu Bawumia has urged the Member States of the West African Monetary Zone (WAMZ) to double their efforts towards meeting the macroeconomic convergence criteria for a single currency by January 2027. The call follows failure by the Member States of WAMZ to meet all the four convergence criteria for a monetary…