{"id":1204417,"date":"2022-09-14T16:49:41","date_gmt":"2022-09-14T16:49:41","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/09\/14\/cedi-is-the-currency-with-the-3rd-highest-value-not-the-3rd-strongest-in-africa-ieas-kwakye\/"},"modified":"2022-09-14T16:49:41","modified_gmt":"2022-09-14T16:49:41","slug":"cedi-is-the-currency-with-the-3rd-highest-value-not-the-3rd-strongest-in-africa-ieas-kwakye","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/09\/14\/cedi-is-the-currency-with-the-3rd-highest-value-not-the-3rd-strongest-in-africa-ieas-kwakye\/","title":{"rendered":"Cedi is the currency with the 3rd highest value; not the 3rd strongest in Africa &#8211; IEA&#8217;s Kwakye"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"td-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"696\" height=\"488\"  alt=\"\" title=\"JOHN-Kwakye-1\" src=\"http:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/09\/JOHN-Kwakye-1-696x488.jpg\" data- class=\"entry-thumb td-modal-image lazyload\"\/><noscript><img loading=\"lazy\" decoding=\"async\" width=\"696\" height=\"488\" class=\"entry-thumb td-modal-image\" src=\"http:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/09\/JOHN-Kwakye-1-696x488.jpg\"   alt=\"\" title=\"JOHN-Kwakye-1\"\/><\/noscript><\/div>\n<p><strong><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">The Director of Research at the Institute of Economic Affairs (IEA), Dr John Kwakye has said Ghana\u2019s currency, the Cedi, is not the third strongest in Africa.<\/span><\/strong><\/p>\n<p><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">He intimated that it is rather the currency with the third highest value. <\/span><\/p>\n<p><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">These are two different things all together, he stated.<\/span><\/p>\n<p><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">\u201cThe cedi is not the third strongest in <\/span>Africa.It<span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\"> is the currency with the third highest value. They are two different things. Just because a currency has a high value doesn\u2019t mean it is strong. The value can be artificially defined through redenomination,\u201d Dr Kwakye tweeted in response to a comment by a Deputy Finance Minister John Kumah to the effect that the local currency is the third strongest on the African continent.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The cedi is not the third strongest in https:\/\/t.co\/aWNhHCjOUH is the currency with the third highest value. They ar two different things. Just because a currency has a high value doesn&#8217;t mean it is strong. The value can be artificially defined through redenomination.<\/p>\n<p>\u2014 J. K. Kwakye (@JohnKwabenaKwa1) <a href=\"https:\/\/twitter.com\/JohnKwabenaKwa1\/status\/1568606836076470272?ref_src=twsrc%5Etfw\">September 10, 2022<\/a><\/p>\n<\/blockquote>\n<p>Mr John Kumah had said\u00a0 \u201cAnd look, I\u2019ve heard all the propaganda, they said Ghana cedi is the worst in Africa and all kinds of things. Look, don\u2019t believe those propaganda. I just returned from Tunisia on a programme, and Tunisia has the second strongest currency in Africa.<\/p>\n<p>\u201cGhana is third actually according to any global ranking of currencies. I am talking about the strength of currencies in Africa. The Libyan Dinar, followed by Tunisian Dinar and then Ghana cedi is the third strongest currency in Africa. But maybe they were talking about the rate of depreciation.<\/p>\n<p>\u201cI just saw what is happening in Nigeria and they are equally complaining that their Naira is not just four hundred and something to the dollar, but sometimes it\u2019s even 700 depending on where \u2026 sometimes they can\u2019t even find the dollar. So this is a global situation.\u201d<\/p>\n<p>He added, \u201cSo it is not just a Ghana situation, it is something that is happening globally and people should not begin to think that it\u2019s as a result of some bad policy or whatever.\u201d<\/p>\n<p><strong>By Laud Nartey|3news.com|Ghana<\/strong><\/p>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Director of Research at the Institute of Economic Affairs (IEA), Dr John Kwakye has said Ghana\u2019s currency, the Cedi, is not the third strongest in Africa. He intimated that it is rather the currency with the third highest value. These are two different things all together, he stated. \u201cThe cedi is not the third [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1204418,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[1535,671,672,673,3293,25715,1987,14303],"class_list":["post-1204417","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-3rd","tag-africa","tag-cedi","tag-currency","tag-highest","tag-ieas","tag-kwakye","tag-strongest"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1204417","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1204417"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1204417\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1204417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1204417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1204417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}