Why is Ghana's cedi in free-fall against the dollar and the pound? |

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[@user-od2sh8wx5s]

They were ok under IMF program. NPP never did anything better. As we stand they ain’t paying external loans. Even with this see where the dollar is. Jokers

[@abdulmajeedpiyam6199]

It means the measures ndc put before leaving office was responsible for the cedis good performance from 2017 to 2021. Npp had no plans except borrowing. They have lost track of the economy.

[@zerosumgame3722]

You need to first compare the level of foreign exchange demand in 2016 to 2024. I presume Ghanaians are importing far more now than back in 2016. If anybody tells you the government can control the fluctuations, they’re completely lying. What specific policy did the NDC have in 2016 that you believe kept the exchange rate low? You need to also keep in mind the inflation and GDP.

[@KofiAlimo]

@@zerosumgame3722 why are Ghanaians importing more now than before? Have you thought about that too? Don't you think it is bad government policies?

[@kofitwum6858]

The simple answer is we are importing wey more than we are exporting, the economy has always been buying and selling. No serious production of basic goods.

[@kofitwum6858]

We are also competing with other countries who will always make sure that they are selling more to us than we sell to them.

[@lodel]

please tell the real estate developers to stop pricing their house they built with cedis in dollars...... THE DEMAND IS FOR THE DOLLAR IS TOO MUCH

[@enosenos185]

Even government charges in dollars if u care to know

[@andyzutah5684]

It would have been worse if we were paying our External Creditors...

[@aBetterCedis]

A better cedi is what we advocate for and it will surprise you that those causing this more are the exchange brokers and forex guys who don't have compassion for humanity and God. What they think of is what they will gain only!. In retrospect businesses are being affected directly or indirectly. These traders (forex traders) must be educated and incentives should be made to those who comply and protect the rate in times of these. Thank you, Bernard and your supportive team for sharing light on the matter.

[@enosenos185]

Forex traders have been in existence for longtime…we can’t start blaming them for government failures

[@kwameowusu8351]

That was a great breakdown. Thanks for the explanation

[@user-bk5mn7ie1q]

Because of the incompetent leadership that lead us onto the hardship and Dumsor as well 🤔

[@TaxiQLEAN]

Ask Kuffour why he called the pastors for Akosombo dam and sold Ghana Telecom then. What was his reason? Do your research.

[@professormensah1492]

I used to enjoy watching your morning show until Sky's defensive stance against the LGBTQ bill in court. I now see him through a different lens of hypocrisy coated in English. I just feel uncomfortable anytime I hear him talk. Just a reminder to him that GOD is watching him and he shouldn't forget that our days here on earth are short even if we all live to be 100 years. And Sky, don't forget that positions are transient and posterity will judge your "LGBTQ actions/decisions" you are making today. Never forget this!!! Apart from that, Bernard and the rest of the panel are doing a great job for the country and humanity at large. GOD bless you all

[@aganamichael198]

Why does someone’s opinion tigger you so much ?

[@professormensah1492]

@@aganamichael198 That is why “my comment” is also my opinion

[@jingodems]

This whole exchange rate debate was brought to mainstream discussion by Bawumiah. This is a good time for him to speak to the issue but rather unfortunately, he says the present performance of the cedi is far better than it was under Mahama.

[@nayak447]

Warp logic on my mind

[@zerosumgame3722]

You need to first compare the level of foreign exchange demand in 2016 to 2024. I presume Ghanaians are importing far more now than back in 2016. If anybody tells you the government can control the fluctuations, they’re completely lying. Until the fundamental structure of the economy is changed from over reliance on imports to home grown produce and homemade products, the currency will forever fluctuate and depreciate. This is happening to many African and South American countries.

[@ayebillaavoka4242]

And whose job is it to fix the fundamentals? We entrusted the country in Nana Addo and Bawumia because of the many attacks they launched on Mahama with their propaganda machine and claiming that they have the best economic management team. They said they have the men to fix the country. They said they will move us away from taxation to production. They said they will industrialize the economy. They said Ghana beyond aid. They said we will not go back to the IMF again. Which of these did they get right since we gave them the country to run? Ghana is below aid today...no body wants to give you aid anymore. The man, Ken , who said we will never go back was the same guy who led us to the IMF before he left. Their only excuse was COVID-19 and the Russia-Ukraine war. It's been 3 years past and they've not found a cure to the problem even after going for an IMF loan. Now there's even a power crisis which they want you to believe that it's a technical challenge but not dumsor. You people should wake up!

[@derysylvester3180]

Bawumia, my id card is smiling ooo😂😂😂

[@TheExpoV]

When we stop importing yamu adeɛ and onions and kotodwe, there will be a surplus of dollars in the system. Agric is the low hanging fruit solution. We should grow what we eat.

[@KayGozi-wk4zu]

Monetary policy is a temporary solution. Fiscal policy is the permanent solution. Increase net exports (ie. Import less and export), reduce taxes and we shall see some progress.

[@EsDels]

The cedis problem is just common sense,why do you import everything and want a stable currency.

[@kwesiawotwi4204]

Ghanaians need to have RESPECT for money. Our attitude towards money must change.

[@oppongbenedictkojo]

We have a big problem as a nation.

[@lodel]

you could be part of the problem🤣

[@alexmarquis3409]

Gold! Gold! Gold!

[@paapa8568]

It’s very sad to hear that Ghana did not get enough revenue from Cocoa, when cocoa price in the world market has increased from $2000 per tonne in 2022 to 0ver $10,0000 per ton in Q1 2024. This is an increase of over 400 percent, and even if our production decreased, we should still be able to increase cocoa FX.

[@papaqwesi9263]

Where were you all when they were cooking the books to look good for loans and printing money like the bank of Ghana is some printing press??? The chickens are coming home to roost.

[@willypapa9165]

There is a trans West African trade in forex , taking place in the black market . Ghana is currently partially supporting to forex of neighbouring country . The government must take a bold step and abolish all forex bureau. Any forex trade must be done through the bank , and the government will then have to monitor the banks, especially the foreign banks. And also institute a law , stating you can't have more than $10000 without reasonable explanation. In the USA if the police see you with more than $10,000 without reasonable explanation, its confiscated to the state and release upon reasonable explanation at the federal Court.

[@lesliequarshie3164]

Instead of the clown minister of trade telling his NPP government to fix their incompetence, he is going round blaming cement manufacturers and retailers. Do we really have the MEN. Nonsense Peoples Party( NPP).

[@sandywool]

Has Ghana in the last 20 years thought of any plan to grow its economy? Why we are surprised at what’s happening now?

[@dr.jefferyelormakortiaagbe3396]

Benard, I believe BOG is printing cash for government again. New prints in town oo

[@time4advancement244]

Why is the guy in the middle wearing that mask?

[@enosenos185]

That the Trumu guy

[@natwiafe8572]

This is too bad !!!!

[@GodwinAmegbor-ix5dq]

That IS why Bawomia IS comparing Ghana to Togo,

[@amponsah9535]

We are even fortunate to have NPP Govt. It would have been over forty cedis to a dollar with Mahamma NDC govt. The whole world is in difficulties.

[@joeappiah1469]

Nonsensical

[@joeappiah1469]

Your comment is unfortunate. How can human being with brain think this way...

[@martinopoku368]

Continue in this delusion.

[@symonsd7964]

akuffo addos first term performance was highly supported by the huge sums of Eurobond moneys they borrowed. nothing special in terms of monetary policies or whatever. without Eurobond monies we can now judge their real governance ability. Those guys are just empty.

[@kofitwum6858]

I'm just about 20min in this video and so disappointed with the presenters, only talking about the problems and government. If more time and energy is spent on energising, teaching and coaching people how to produce, create and invest, things will gradually change.

[@kofitwum6858]

20:32, Just listen to one of the presenters advertising latest SUVs, developing the taste of luxury and high end value goods in the country. Just imagine how many bags of cocoa do we need to exchange for only 1 SUV? And how many are you even producing.

[@michaelg5928]

Yall ask questions that have simple answers. Yall dont produce products , you keep importing. What did u think will happen

[@ayebillaavoka4242]

You think the problem is importation? Can you tell me a period in Ghana where we were not importing anything? Can you tell if Ghana is the highest importer in the world? The problem is corruption. Nana Addo and Bawumia stole all the money to repay the debts they owed people when they ran for the presidency many times. They had to sell our country in advance in the name of loans and award dirty contracts to recover their money. Now we're broke. That's the only explanation that makes sense even if there's no evidence to back it. So y'all should stop spinning.

[@joeappiah1469]

Start producing something in Ghana and you will get to know why companies are leaving Ghana. Government provides conducive environment for businesses to thrive. Do you know the number of taxes businesses pay just doing business in Ghana.

[@michaelg5928]

@@joeappiah1469 yes the goverment is the problem. They are non-thinkers and corrupt also. Reason why they need to go

[@kofitwum6858]

42:30, Disappointed, just lisen to renowned seasoned presenters trying to understand currency exchange rates in 2024, what chance has those who are listening have in understanding the problems and find solutions.

[@kofitwum6858]

Talk is cheap, everybody can identify problems but only a very few can provide solutions

[@kwbnsika]

You Ghanaians should be doing all you can to hold bitcoin

[@thetwosticks2479]

Because you all have been very wicked with how you all have treated the returning diaspora. Simple