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Wednesday, June 19, 2024

Cedi now most worthless currency against US dollar – Franklin Cudjoe –

Founder of IMANI Africa, Franklin Cudjoe, in October 2022 described the cedi as the most worthless currency against the US dollar.

The cedi at the time was selling at GH¢12 against US$1.

The Founding President of think-tank IMANI Centre for Policy and Education, Franklin Cudjoe, has bemoaned the depreciation of the cedi against the US dollar.

The cedi currently trades at above GH¢12 against US$1.

In a Facebook post on Monday, 17 October 2022, Mr Cudjoe described the Ghanaian currency as the most worthless against the US dollar.

“The Ghanaian currency, the cedi, is officially the most worthless against the dollar. My Cedi Committee did its best to advise against this eventuality,” he wrote.

He noted that setting up committees in the country, to deal with important issues such as the depreciation of the Ghana Cedi is a waste, as the recommendations of such committees are not enforced.

“Alas, when you see a snake, just kill it. No need to set up a committee on snakes,” Mr Cudjoe remarked.

Source: www.ghanaweb.com

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