'Urgent interventions needed to stop haemorrhaging of the Cedi' – John Kwakye

His comment comes after the cedi was adjudged by Bloomberg the world's worst-performing currency against the US Dollar.

Bloomberg reported that the cedi lost about 45.1% to the US dollar this year to sell at GH¢11.2625 per dollar.

This makes the cedi's depreciation the worst among 148 currencies tracked by Bloomberg, overtaking Sri Lanka's rupee whose depreciation has been 44.7%.

Reacting to this in a tweet sighted by GhanaWeb, Dr John Kwakaye said, “Urgent interventions are needed to stop the haemorrhaging of the cedi.”

Meanwhile, Ghana is targeting an amount of $3 billion over a three-year period from the IMF once an agreement on a programme is reached.

The new amount requested as a loan is double the government’s initial target of $1.5 billion.

The IMF programme is aimed at restoring macroeconomic stability and safeguarding debt sustainability among many others.

Urgent interventions are neede to stop the haemorrhaging of the cedi. #FixTheCediNow

— J. K. Kwakye (@JohnKwabenaKwa1) October 18, 2022