{"id":174191,"date":"2024-04-23T10:39:32","date_gmt":"2024-04-23T10:39:32","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/04\/23\/fitch-solutions-predicts-ghanaian-cedi-to-bounce-back\/"},"modified":"2024-04-23T10:39:32","modified_gmt":"2024-04-23T10:39:32","slug":"fitch-solutions-predicts-ghanaian-cedi-to-bounce-back","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/04\/23\/fitch-solutions-predicts-ghanaian-cedi-to-bounce-back\/","title":{"rendered":"Fitch Solutions Predicts Ghanaian Cedi To Bounce Back"},"content":{"rendered":"<p><\/p>\n<div>\n<p>\u00a0<\/p>\n<p>In a positive outlook for Ghana\u2019s economy, Fitch Solutions, an international rating agency, has stated that the cedi will soon appreciate and return to a strengthening trajectory.<\/p>\n<p>The rating agency cited several factors that will contribute to the cedi\u2019s recovery, notably the progress the government has made regarding the restructuring of its commercial debt.<\/p>\n<p>Fitch Solutions believes that these advancements will bolster investor confidence in Ghana\u2019s economy and policymaking processes, leading to increased foreign exchange inflows and a consequent strengthening of the cedi in the second half of 2024.<\/p>\n<p>Furthermore, Fitch Solutions expects the Ghanaian cedi to recoup some of its recent losses in the months ahead, with the currency expected to end the year at USD 12.25.<\/p>\n<p>This prediction comes as the cedi has depreciated by 11 percent against the US dollar so far this year, positioning it among the worst-performing currencies globally.<\/p>\n<p>The rating agency also noted that the depreciation was coupled with worsening reserves, which resulted in low import cover.<\/p>\n<p>However, Fitch Solutions is optimistic that the progress made in debt restructuring will help to address these challenges and pave the way for the cedi\u2019s recovery.<\/p>\n<p>Overall, the Fitch Solutions\u2019 assessment provides a glimmer of hope for Ghana\u2019s economy, as the country works to navigate the ongoing economic challenges.<\/p>\n<p><strong>By Vincent Kubi<\/strong><\/p>\n<p><!-- AI CONTENT END 2 -->\n\t<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0 In a positive outlook for Ghana\u2019s economy, Fitch Solutions, an international rating agency, has stated that the cedi will soon appreciate and return to a strengthening trajectory. The rating agency cited several factors that will contribute to the cedi\u2019s recovery, notably the progress the government has made regarding the restructuring of its commercial debt. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":174192,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-174191","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Fitch Solutions Predicts Ghanaian Cedi To Bounce Back - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/04\/23\/fitch-solutions-predicts-ghanaian-cedi-to-bounce-back\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fitch Solutions Predicts Ghanaian Cedi To Bounce Back - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"\u00a0 In a positive outlook for Ghana\u2019s economy, Fitch Solutions, an international rating agency, has stated that the cedi will soon appreciate and return to a strengthening trajectory. The rating agency cited several factors that will contribute to the cedi\u2019s recovery, notably the progress the government has made regarding the restructuring of its commercial debt. 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