Ghanaians are not enthused about what the local currency has been reduced to.
The value of the cedi has seen a downward spiral against many foreign currencies, especially the dollar in the past few months.
On Monday, findings by Bloomberg placed the cedis as the worst-performing currency against the US dollar.
The report attributed the situation partly to the wait-and-see approach adopted by some investors.
The cedi also lost 9.03% in value to the US dollar last week (October 10-October 14, 2022).
A section of the public took to social media to air their grievance about the development.
Many are also wondering how the governance-troubled Sri Lanka, which topped the worst currency performance table, managed to surpass Ghana.
Find the online posts below.
Ukraine is literally being annexed.
Sri Lanka no even get government to run thema economy.
& somehow we carry last yet wonna Class P dey plan Detty December. https://t.co/Oc9hFg7USH
— I, E. (@The1TheyCall_E) October 17, 2022
And Ghana has not even got an embassy in Kyiv. pic.twitter.com/2SsjH7Z37X
— StatsGH (@StatsGH) October 17, 2022
Worse than Sri Lanka with their government overthrow, worse than Ukraine with their invasion, worse than Burkina Faso with two military coups within a year, worse than… https://t.co/KThJJwftkE
— Efo Kofi and the Quest for the Ultimate Compost (@BeautiflDeviant) October 17, 2022
I never envisaged that 1 day Ghana will become a laughing stock to the world by seeing a story that says Cedi is worst performing currency in the world
So of all 204 countries, how come our currency is worst amidst Covid and Russia/Ukraine warPresident Akufo-Addo has failed
— Austine Woode (@obiMpenaAustine) October 17, 2022
it’s not economic mismanagement. it’s the war in Ukraine. Unlike the 147 other countries that Bloomberg tracks, Ghana serves as a place where all the missiles and rocket artilleries used in the war transit before going to their target. Patriotic citizens know this. https://t.co/szlmrouzOv
— .ひ (@thearmah_) October 17, 2022
You people should “arrest” the dollar now o @NAkufoAddo and @MBawumia https://t.co/8nYeKcxT0h
— Maame
(@obaasima__xx) October 18, 2022
Congratulations @NAkufoAddo and @MBawumia the whole world we we chop last.
“We know how to bring the economy back…”
https://t.co/9vAgny6prX
—
Bane of KT Hammond’s life (@Amegaxi) October 17, 2022
The thing bothering me this morning is how the bankrupt Sri Lankan Rupee a managed to get from the bottom of the currency non-performance table to be replaced by the Cedi when Oga White-White is doing an excellent job. Can you help please?
— Kwame (@villag_drunkard) October 18, 2022
