Independent Presidential candidate Nii Amu Darko has sounded the alarm on Ghana’s economic fundamentals, warning that the country is headed for an exchange rate crisis unless urgent action is taken.
“When the fundamentals are weak, the exchange rate will expose you… If we don’t find at least $1 billion to finance the fiscal deficit in this quarter, the dollar will hit ¢16 by the end of June.”
Darko identifies 10 key fundamentals that determine a nation’s exchange rate, including fiscal deficit, government debt, current accounts, terms of trade, inflation, interest rate, political stability, recession, speculation, and stock exchange performance.
He argues that Ghana is struggling in all these areas, putting immense pressure on the cedi.
Darko’s warning serves as a wake-up call for policymakers and citizens alike. With the country’s economic stability at stake, it’s crucial to address these fundamental issues to avoid a looming exchange rate crisis.
