Shatta Wale has credited a justification behind the horrifying faring rate of the cedi against the dollar, which has plummeted the country into a condition of stagnation, engulfed by the exceeding costs of transactional dealings.
Sharing a photograph of himself and his best buddy Medikal, while having a great time and laughing out loud over certain jokes, Shatta Wale said that a great deal of Ghanaians have involved themselves in a lot of childish antics, and this action has added to the ridiculously low rate of the cedi, against various significant worldwide monetary demoninations.
In the interim, the decline rate of the cedi under the full supervision of Dr. Mahamudu Bawumia, who had asserted that he will arrest the dollar when he and his superior, Nana Akufo Addo, comes to assume the position of authority, is under a tough microscope.
Based on Bloomberg analytics, the Ghana cedi is presently the main currency denomination, that has universally fared extremely below standardized thresholds, when contrasted with the US dollar.
Throughout the course of recent months, the worth of the Ghana Cedi has been consistently declining, per assessment of its value, when compared to the dollar.
This is connected to the fact that before the country’s concurrence with the International Monetary Fund, financial backers kept on pumping external capital assets into the west African country economic pool.
This makes the cedi’s deterioration the most obviously awful, among 148 monetary forms per the analytics of Bloomberg, overwhelmed by Sri Lanka’s rupee, whose devaluation has been 44.7% respectively.