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Cedi to weaken further — Fitch

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• Ghana cedi
The cedi is expected to weaken further over the coming months, a report from Fitch Solutions Country Risk and Industry Research, has revealed.
In the year to date (August 30 2022), the cedi had depreciated sharply, having lost 38.1 per cent of its value against the US dollar.
“This is caused by increased demand for the dollar following tighter monetary policy in the US and rapidly growing investor concerns around Ghana’s fiscal and external health,” the November edition of the report on the outlook of the cedi said.
As of August, the cedi was third worst-performing currency globally, after Sri Lanka’s rupee and Zimbabwe’s dollar.
The report said Ghana’s deteriorating fiscal and balance of payment dynamics had effectively cut the country off from international capital markets since Q421, which had seen bond yields rise to 23.36 per cent from 10.51 per cent at the start of the year.
Additionally, credit rating agencies S&P, Fitch Ratings and Moody’s decided to downgrade the country’s sovereign ratings in early 2022, with the former two having downgraded Ghana again in August 2022.
According to Fitch, these developments had further eroded investor confidence and had put additional downside pressure on the exchange rate.
“Although we expect that the cedi will remain on a depreciatory trajectory in the immediate term, the outlook depends on whether Ghana will reach an agreement with the International Monetary Fund (IMF) and obtain funding in the months ahead,” the report said.
In July 2022, President Nana Akufo-Addo announced that he had instructed the Finance Minister, Ken Ofori Atta, to start negotiations with the IMF as part of broader efforts to ‘quicken Ghana’s build back’.
“While we believe that the two parties will reach a deal in Q422, there are downside risks to this view, which would have negative implications for the cedi,” the report said.
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Justin Kodua Frimpong files nomination to seek re-election as NPP General Secretary

General Secretary of the New Patriotic Party (NPP), Justin Kodua Frimpong, has filed his nomination to contest the position of General Secretary again as the party begins its rebuilding efforts ahead of the 2028 general elections.
He was accompanied by party stalwarts and supporters who were in high spirits, expressing confidence that he is the right person to hold the position.
Speaking after filing his nomination, Mr Kodua Frimpong assured the rank and file of the party that he would not disappoint them.
“I can assure you that the faith the rank and file of the party have had in me, I will never disappoint them,” he said.
He also pledged to run a clean campaign devoid of personal attacks.
“I can assure you that our internal campaign will be devoid of personal attacks,” he told his fellow contestants and the rank and file of the party as he seeks to retain his position.
His tenure has seen the party through the 2024 general elections, where the NPP lost power to the National Democratic Congress (NDC) after eight years in government.
The party is currently in a rebuilding phase, with internal elections scheduled to elect new national executives to lead its reorganization towards the 2028 polls.
The General Secretary position is considered one of the most influential in the party’s administrative structure, responsible for the day-to-day running of the party secretariat and implementation of party decisions.
By Edem Mensah-Tsotorme
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UGMC disputes Michael Blackson’s claims over late mother’s treatment

The University of Ghana Medical Centre (UGMC) has disputed claims made on social media by comedian Michael Blackson concerning the treatment given to his late mother, saying a review found that the allegations did not accurately reflect what happened during her stay at the hospital.
In a statement issued in Accra on August 5, 2026, the management of UGMC expressed condolences to Mr. Blackson and his family over the death of his 83-year-old mother, who died at the facility on July 16, 2026.
The hospital said it had taken the concerns raised by Mr. Blackson seriously and conducted a thorough review in line with its clinical and administrative procedures.
According to the statement, the facts presented by Mr. Blackson on social media contained “numerous inaccuracies” and did not accurately reflect the medical care provided to his mother.
UGMC explained that she was referred to the facility from another hospital and received treatment there from May 27 to July 16, 2026, a period of about eight weeks.
The hospital stated that it would not release details of her diagnosis, treatment, medical records or other aspects of her care because it had a duty to protect patient confidentiality, even after death.
It said the decision was intended to respect the dignity of the deceased and the privacy of her family.
UGMC further stated that all clinical decisions at the facility are made by qualified healthcare professionals based on medical judgment, established standards of care and the best interests of the patient.
The statement added that such decisions are made in consultation with authorised family representatives where necessary and that billing and financial procedures are governed by institutional policies and are separate from clinical decision-making.
The hospital noted that it values feedback from patients and their families and considers both positive and negative comments important for improving the quality of care.
Mr. Blackson had earlier used social media to criticise the care his mother received at UGMC, prompting the hospital’s response.
By: Jacob Aggrey




