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Stop the negative speculations on the cedi - Oppong Nkrumah jabs NDC

The Minister of Information, Kojo Oppong Nkrumah has entreated members of the National Democratic Congress to stop the negative speculations on the cedi.

Information Minister Kojo Oppong Nkrumah

He said such comments results in panics which causes the cedi to rise.

“There is some a practice in this country where some people specialize in speculating down the Ghana cedi for us all and the activities of speculators and the speculation and the speculation that is incessantly associated with the currency contributes to this exercise", he said in Parliament.

"Mr. Speaker, today, in the name of Ghana, we would like to plead with such persons that as we come out off this programme and us currency begins to experience a rebound, let us speculate the positives.”

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The Minister also lauded government's resolve to ensure fiscal discipline that will ensure stability for the cedi's gain against the major currencies in recent days.

“We have shown a commitment, the competence and the discipline required to meet the target and come out of that programme,” Mr. Oppong-Nkrumah said.

“We have also put in place the infrastructure for irreversibility, he added, referencing the Fiscal Responsibility Act."

“It is key in ensuring that tomorrow, we don’t run this economy aground and go back for another bailout programme.”

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The Executive Board of the IMF just approved the final disbursement of about US$185.2 million to Ghana.

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