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In October 2022, IMANI Africa founder Franklin Cudjoe described the cedi as the least valuable currency against the US dollar.
At that time, the exchange rate of the cedi to the US dollar was 12 Ghanaian cedi.
Franklin Cudjoe, founding chairman of think tank IMANI Centre for Policy and Education, lamented the depreciation of the cedi against the dollar.
Currently, the exchange rate of cedi to US dollar is over 12 Ghanaian cedi.
Mr Cudjoe in a Facebook post on Monday, October 17, 2022, said the Ghanaian currency is the least valuable against the US dollar.
“The Ghanaian cedi is now trading at its lowest exchange rate against the US dollar. My cedi committee has done its best to dissuade this from happening,” he wrote.
He noted that setting up committees in the country to deal with important issues such as the devaluation of the Ghanaian Cedi was a waste because the recommendations of those committees were not implemented.
“Well, if you see a snake, just kill it. There’s no need for a snake control committee,” Mr. Cudjoe commented.
source: www.ghanaweb.com
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