Seth Terkper, Economic Policy Advisor at the Office of the President, has credited favourable rainfall patterns as a key contributor to the recent strengthening of the Ghanaian cedi.
According to Mr.
Terkper, improved weather conditions have resulted in strong harvests across the country, reducing the need for food imports and easing pressure on Ghana's foreign exchange reserves.
Speaking on Channel One TV's The Point of View with Bernard Avle on Monday, June 30, Terkper noted that the availability of locally produced food has helped bring down inflation and lessen the demand for foreign currency. "There's also a natural part of it, the rains have been good, that means that in terms of currency management, in terms of inflation, food comes up.
