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The second cedi was initially pegged to sterling at a rate of ₵2 = £1. However, within months, the second cedi was devalued to a rate of ₵2.45 = £1, less than the initial value of the first cedi. This rate was equivalent to ₵1 = 0.98 U.S. dollars and the rate to the dollar was maintained when sterling was devalued in November 1967 ...
Also, in many African currencies there have been episodes of rampant inflation, resulting in the need for currency revaluation (e.g. the Zimbabwe dollar). In some places there is a thriving street trade by unlicensed street traders in US dollars or other stable currencies, which are seen as a hedge against local inflation. The exchange rate is ...
The E-Cedi is part of a project called the 'Digital Ghana Agenda'. Its goal is the digitization of Ghana's 30 million people, and government services. The E-Cedi is to complement the Ghanaian cedi, and serve as an alternative to physical cash, and the 'Cashlite Agenda'. [5] The three phases for the E-Cedi are design, implementation, and piloting.
Ghana's gross international reserves stood at $6.6 billion as of end-September — just enough to cover about three months' worth of imports.
The 2010 United States Department of Labor estimated over 2.7 million child laborers in Ghana, or about 43% of all children aged 5–14. 78.7% of these children work in agriculture, 17.6% in fishing and transportation services, and 3.7% in industry, which includes manufacturing work and mining.
Some economists recommended that Ghana devalue its currency, the cedi, to make its cocoa price more attractive on the world market, but devaluation would also have rendered loan repayment in United States dollars much more difficult. [1] Moreover, such a devaluation would have increased the costs of imports, both for consumers and nascent ...
New York has the coldest record in the region with 52 degrees below zero, and Delaware has the warmest record at minus 17. arctichighexplained.jpg -South: Records are colder than you might expect ...
In October 2022, Dapaah's two house helps, 18-year-old Patience Botwe and 30-year-old Sarah Agyei, were arrested and charged with stealing $1 million, €300,000, and millions of Ghana cedis from the minister's home between July and October 2022. The two were charged with conspiracy and multiple counts of theft.