Don’t talk ill About the cedi – Stanbic Bank boss appeals

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The Managing Director of Stanbic Bank Ghana Limited, Mr Alhassan Andani, has spoken to Ghanaians not to speak ill about the cedi, clarifying that such remarks disintegrate trust in the cash,  leading to increased depreciation.

In his introductory statements at the progressing Graphic Business/Stanbic Bank Breakfast Meeting, Mr Andani said Ghanaians should rather be keen on how they could on the whole help the cedi to strengthen against its major trading partners.

He said the condition of the cedi was an impression of the decisions that the general population make, consequently the requirement for everyone to cooperate to help achieve a supportable conversion scale.

He likewise required a blunt and impartial talk on the difficulties confronting the swapping scale.

Mr Andani, who is also the President of the Ghana Association of Bankers, further approached specialists and other financial on-screen characters to surrender their best in finding and actualizing answers to reduce the extended deterioration.

A year ago, the cedi lost some 8.4 percent of its incentive to the US dollar. It went under extraordinary weight in the initial three months of the year, fundamentally because of expanded repatriation of securities by non-occupant bondholders.

The Governor of the Bank of Ghana, Dr. Ernest Addison, depicted it as an overshoot that has since standardized.

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