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April 1, 2026
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Joe Jackson warns of cedi depreciation amid export value leakages
Money
Policy
Growth
Key Points
- Joe Jackson warns that the Ghana cedi faces renewed depreciation if export value chain leakages are not addressed.
- He argues that the cedi's pressure stems from Ghana's inability to retain significant export earnings, not primarily from import appetite.
- Increasing export volumes alone will not stabilize the currency if the country retains less than half the value of its exports.
- Recent cedi gains, from 15-17 to 11 against major currencies, are fragile and could easily be reversed without structural fixes.
- His comments underscore growing calls for stronger policy interventions to improve Ghana's export value retention for long-term currency stability.
Why This Matters
This analysis is critical for Ghana as it highlights a fundamental structural issue undermining the cedi's stability and the country's economic health. Addressing export value chain leakages is crucial for managing foreign exchange reserves, controlling inflation, and fostering a predictable economic environment essential for business and investment.
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