An economist, Courage Boti says the number of foreigners holding domestic bonds in the country has declined.
Speaking in an interview on Joy FM’s Top Story on Friday he attributed the decline to the government's precarious liquidity position, which has worsened the country's debt position.
“I have been studying some data and from September last year till now [October 14, 2022] foreigners holding of bonds have declined from about ¢33b to now about ¢17.3b,” he said.
His comment follows the cedi breaching the ¢12 to the dollar mark within just a week, selling at ¢12.10 at most forex bureaus or the retail market.
When asked what options are available to government to deal with the cedi’s depreciation, he suggested that government makes “progress with a balance of payment support from the International Monetary Fund (IMF).”
In his view, when the balance of payment support from the IMF is secured, it will reassure investor confidence.
Latest Stories
-
Masloc CEO honoured as capacity building Shero of the Year
5 mins -
MPs’ Repeated Attempts to Sue the Speaker: Unintended Consequences for the 2024 Elections?
9 mins -
Today’s front pages: Tuesday, November 5, 2024
19 mins -
Galamsey: Investigation into attack on Joy News’ Erastus Asare and colleagues already growing cold
50 mins -
Mahama promises construction of stadia in all 16 regions if elected
1 hour -
Dampare has transformed Police training school – Bawumia
1 hour -
America braced as two stark visions collide on election day
1 hour -
NAPO urges Ghanaians to support NPP’s vision for national development
1 hour -
About 95% of PWDs in Obuasi have source of livelihood – MCE
2 hours -
Immigration Service intercepts 54 gallons of fuel
2 hours -
Election 2024: Roman Fada selected as flagbearer for Ghana Freedom Party
2 hours -
Bawumia to launch Ghana’s credit scoring system on Nov. 7
2 hours -
Alan to combat galamsey with strategic youth-centred business model
2 hours -
Agona Swedru chiefs commit to ending child marriage within their jurisdiction
2 hours -
Sunyani Traditional Council endorses Bawumia – NAPO government
2 hours