Prof. Godfred Bokpin links Ghana's Cedi depreciation to IMF program restrictions on Central Bank's currency market intervention.
Economist & Finance Expert Prof. Godfred Bokpin has attributed part of Ghana's Cedi depreciation to the International Monetary Fund's (IMF) programme with the country. Under the IMF programme, the Central Bank was barred from intervening in the currency exchange market when the Cedi fell against major trading currencies, preventing the Bank of Ghana from entering the foreign currency market to stabilise the Cedi. Prof. Bokpin's comment was made on a local radio station.
May 18, 2024
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