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Cedi performance has been remarkable – Gabby Otchere-Darko

March 26, 2019 7:14 AM

A leading member of the ruling New Patriotic Party (NPP), Gabby Asare Otchere-Darko has hailed the recent performance of the cedi as remarkable.

Cedi performance has been remarkable – Gabby Otchere-Darko

Gabby, who is the nephew of President Akufo-Addo, said he is hopeful that the cedi will continue to appreciate, as it is currently selling at GHC5.049 per dollar.

The local currency begun the year on a very bad note, depreciating from GHc 4.9 to over GHc 5.5 per US dollar.

This led to criticisms from the business community, who called on the government to take steps to salvage the situation.

Gabby Asare Otchere-Darko Pulse Ghana

The cedi, however, experienced a marginal appreciation last week, selling at GH¢5.3 to the dollar on Tuesday.

The local currency again went up marginally and was selling at GHC5.049 as of March 24, 2019.

This, Gabby Asare Otchere-Darko, believes is a remarkable achievement and hopes it continues.

In a Facebook post, the former Executive Director of the Danquah Institute wrote: “The cedi recovery has been remarkable. May the good news continue.”

Meanwhile, the Finance Minister, Ken Ofori-Atta disclosed last week that government has injected a $750 million Standard Bank bridge facility and also launched a $3 billion Eurobond to stop the cedi from depreciating further.

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