{"id":1268599,"date":"2022-12-21T18:30:15","date_gmt":"2022-12-21T18:30:15","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/12\/21\/us-economist-steve-hanke-unimpressed-with-cedis-gains-says-ghana-is-in-economic-death-spiral-economy\/"},"modified":"2022-12-21T18:30:15","modified_gmt":"2022-12-21T18:30:15","slug":"us-economist-steve-hanke-unimpressed-with-cedis-gains-says-ghana-is-in-economic-death-spiral-economy","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/12\/21\/us-economist-steve-hanke-unimpressed-with-cedis-gains-says-ghana-is-in-economic-death-spiral-economy\/","title":{"rendered":"US Economist Steve Hanke Unimpressed With Cedi\u2019s Gains\u00a0 &#8211;\u00a0Says\u00a0Ghana Is In Economic Death Spiral&#8230; | Economy"},"content":{"rendered":"<p><\/p>\n<div>\n<p>US Economist, Prof. Steve Hanke has yet again criticised the gains Ghana cedi is making against the dollar.<\/p>\n<p>Since the start of the year, the professor of applied economics at the Johns Hopkins University in Baltimore has been downgrading the Ghanaian economy and criticised President Akufo-Addo\u2019s government when the cedi became the worst performing currency in the world.<\/p>\n<p>Despite the local current appreciating over 60% in the last couple of weeks, Prof. Hanke is still not convinced the gains the cedi is making is sustainable.<\/p>\n<p>On Tuesday however, Prof. Hanke took to social media to confirm that Ghana has moved to 14th\u00a0from 15th\u00a0on his #Currency Watchlist.<\/p>\n<p>Nonetheless, he insists that Ghana is in an economic death spiral because of President Nana Addo Dankwa Akufo-Addo\u2019s bad leadership style.<\/p>\n<p>\u201cBy my calculations, the Ghanaian #cedi has depreciated 31.17% against the USD since Jan. 2022, which is why #Ghana is in 14th place in this week&#8217;s Hanke\u2019s #CurrencyWatchlist. Thanks to Pres. Akufo-Addo, Ghana is in an economic death spiral,\u201d Prof. Steve Hanke said on Twitter.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">By my calculations, the Ghanaian <a href=\"https:\/\/twitter.com\/hashtag\/cedi?src=hash&#038;ref_src=twsrc%5Etfw\">#cedi<\/a> has depreciated 31.17% against the USD since Jan. 2022, which is why <a href=\"https:\/\/twitter.com\/hashtag\/Ghana?src=hash&#038;ref_src=twsrc%5Etfw\">#Ghana<\/a> is in 14th place in this week&#8217;s Hanke\u2019s <a href=\"https:\/\/twitter.com\/hashtag\/CurrencyWatchlist?src=hash&#038;ref_src=twsrc%5Etfw\">#CurrencyWatchlist<\/a>. Thanks to Pres. Akufo-Addo, Ghana is in an economic death spiral. <a href=\"https:\/\/t.co\/3ZCuqVeQfI\">pic.twitter.com\/3ZCuqVeQfI<\/a><\/p>\n<p>\u2014 Steve Hanke (@steve_hanke) <a href=\"https:\/\/twitter.com\/steve_hanke\/status\/1605284401566437382?ref_src=twsrc%5Etfw\">December 20, 2022<\/a><\/p>\n<\/blockquote>\n<h3><strong\/><\/h3>\n<p><span class=\"peace_black_text_4\">Source: twitter\/modernghana<\/span><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<table width=\"100%\" border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"clear:both\">\n<tr>\n<td><span class=\"peace_red_text_1\">Disclaimer<\/span>: <span class=\"peace_ash_text_1\">Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.<\/span><\/td>\n<\/tr>\n<\/table>\n<p>Featured Video\n<\/p>\n<p><div class=\"youtube-embed\" data-video_id=\"wB2-NHndouE\"><iframe loading=\"lazy\" title=\"Our Fight Against Sim Card Registration Is Unending- Hon. Ras Mubarak Cautions Gov&#039;t\" width=\"696\" height=\"392\" src=\"https:\/\/www.youtube.com\/embed\/wB2-NHndouE?feature=oembed&#038;enablejsapi=1\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/div>\n<\/p>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>US Economist, Prof. Steve Hanke has yet again criticised the gains Ghana cedi is making against the dollar. Since the start of the year, the professor of applied economics at the Johns Hopkins University in Baltimore has been downgrading the Ghanaian economy and criticised President Akufo-Addo\u2019s government when the cedi became the worst performing currency [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1268600,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[1457,371,3010,2470,1963,1925,24112,29969,29970,5076,26444],"class_list":["post-1268599","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-cedis","tag-death","tag-economic","tag-economist","tag-economy","tag-gains","tag-hanke","tag-saysghana","tag-spiral","tag-steve","tag-unimpressed"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1268599","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=1268599"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1268599\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1268599"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1268599"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1268599"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}