The Cedi bounces back

Dear Editor,

Good news! The cedi is gaining strength again. Today, one United States Dollar equals GH¢5.39. It was GH¢5.65 in previous weeks. The moment we attempted to borrow $3bn, the cedi started gaining strength. We have the $3bn now. It seems the more you borrow, the more you fix your financial troubles.

In times past, a so-called “economic messiah” said “Borrowing is a lazy man’s approach”. But our politicians should remember that theories are consistent. They do not change as and when one pleases. Borrowing is still a lazy man’s approach to developing a nation. Meanwhile, we can only hope that the cedi maintains its current position and does not depreciate further.

Kwabena Adu Offinso

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