Ghana: More Measures Needed to Sustain Economy
The government and the Bank of Ghana have initiated moves to stem rising inflation and depreciation of the Cedi to address challenges facing the economy.
Sadly, the country in recent months have been witnessing rising inflation and depreciation, creating anxiety among the citizens and the business community.
For example, inflation which is the rate at which the prices of goods and services rise or fall, has currently crossed a single digit to 15.7 per cent and a dollar is exchanged for more than GHc7.
The rising inflation and the depreciation of the Cedi are not the doing of the government.
However, some economists who attribute the problem to rising food prices, upward adjustments in petroleum prices, the abrupt exit of some offshore investors from the country and repatriation of the profits by foreign companies, wish that the government would adopt policies to help reduce the prices.
Continuously, the rising inflation and…