{"id":135918,"date":"2025-09-11T10:33:07","date_gmt":"2025-09-11T10:33:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/135918\/"},"modified":"2025-09-11T10:33:07","modified_gmt":"2025-09-11T10:33:07","slug":"president-mahama-outlines-measures-to-find-real-value-of-cedi","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/135918\/","title":{"rendered":"President Mahama outlines measures to find real value of cedi"},"content":{"rendered":"<p id=\"article-123\">President <a target=\"_blank\" href=\"https:\/\/www.ghanaweb.com\/GhanaHomePage\/people\/person.php?ID=1349\" rel=\"nofollow noopener\">John Dramani Mahama<\/a> has addressed recent fluctuations in the value of the Ghanaian cedi, outlining steps his government is taking to stabilise the currency and protect the economy.<\/p>\n<p>Speaking at a media engagement, the President acknowledged the steep depreciation of the cedi in 2024, which created difficulties for businesses and households in planning and operations.<\/p>\n<p>He noted, however, that the currency has since appreciated, a development that has increased imports but also raised concerns among exporters who now receive lower returns on foreign exchange.<\/p>\n<p>\u201cThe objective is to keep currency depreciation within a five percent margin per annum in order to promote long-term stability,\u201d President Mahama said.<\/p>\n<p>He revealed that the government, working with the Bank of Ghana, is seeking a balanced approach that supports both importers and exporters while ensuring sustained confidence in the local currency.<\/p>\n<p>The President also cited a 50 percent decline in remittances as a challenge, attributing the drop partly to speculation and cautious behaviour among diaspora communities.<\/p>\n<p>In addition, he disclosed that investigations have begun into cases of foreign exchange mismanagement, where funds were collected but not repatriated or used for their intended purpose.<\/p>\n<p>According to him, punitive measures will be taken against banks and individuals found culpable in such practices.<\/p>\n<p>\u201cProtecting the cedi against exploitation is vital for safeguarding our economy,\u201d he stressed.<\/p>\n<p>President Mahama underscored the importance of collaboration among government agencies, financial institutions and stakeholders to tackle the challenges, adding that a strong and stable currency remains central to Ghana\u2019s economic growth and development.<\/p>\n","protected":false},"excerpt":{"rendered":"President John Dramani Mahama has addressed recent fluctuations in the value of the Ghanaian cedi, outlining steps his&hellip;\n","protected":false},"author":2,"featured_media":135919,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[45,49,48,46],"class_list":["post-135918","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-ca","tag-canada","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/135918","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=135918"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/135918\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/135919"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=135918"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=135918"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=135918"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}