The Presidential Advisor on the Financial system, Seth Terkper, has indicated that the federal government is actively working to stabilise the Ghana cedi at round GH¢10 to the US greenback, as a part of a renewed dedication to fiscal self-discipline and macroeconomic restoration.
This assurance comes on the again of feedback by President John Dramani Mahama, who not too long ago revealed that each the Finance Minister and the Governor of the Financial institution of Ghana estimate the cedi’s true worth to be between GH¢10 and GH¢12 per greenback.
Talking on PM Specific Enterprise Version on Pleasure Information, Mr. Terkper, who can be a former Finance Minister, defined {that a} complete technique is underway to curb change price volatility and construct investor confidence.
“We’re not simply counting on financial instruments, however combining them with structural fiscal reforms and tighter expenditure controls”.
“The aim is to attain a steady vary, and we’re aligning coverage actions to get there”, he stated.
Mr. Terkper additional famous that the stabilisation technique contains boosting overseas change reserves, rising export income, and implementing fiscal self-discipline throughout all public sector operations.
The assertion comes at a time when the cedi has proven indicators of appreciation, although considerations persist about inflation, debt sustainability, and world monetary uncertainty.
Whereas the announcement has sparked cautious optimism in monetary markets, consultants stress that long-term stability will rely upon constant coverage implementation.
The federal government is predicted to offer extra readability on its forex administration technique within the upcoming mid-year price range evaluate.
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