Macroeconomic Forecast Ghana

BMI View: The Ghanaian cedi has seen a sharp sell-off of late. The weakness is being driven by a temporary mismatch in supply and demand for dollars. Looking beyond the near term, we maintain our constructive stance on the cedi, anticipating around 10% of nominal appreciation against the US dollar over the year, driven by an improving balance of payments position (thanks to oil revenues) and strong foreign investment inflows.

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