Disbursement of $1.2bn from partners will mitigate Cedi depreciation - Finance Minister - MyJoyOnline

Finance Minister Dr Mohammed Amin Adam has stated that the anticipated $1.2 billion from development partners will bolster the local currency against major trading currencies.

During the inaugural monthly press briefing of the Finance Ministry on Tuesday, March 26, in Accra, Dr Amin Adam attributed the recent depreciation of the Ghana cedi to both domestic and international factors, with the currency currently trading at GH¢12.8 to a dollar.

Additionally, Dr Amin Adam pointed out local factors contributing to the depreciation, including payments by the energy and corporate sectors, as well as the delayed disbursement of the cocoa loan, which intensified pressure on the local currency.

Tags:   Amin Adam Cedi Depreciation Finance Minister

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