News
Economic challenges due to high exchange rate – ISSER

- /home/u249204778/domains/spectator.com.gh/public_html/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 27
https://spectator.com.gh/wp-content/uploads/2024/08/20240808_083941.jpg&description=Economic challenges due to high exchange rate – ISSER', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
- Share
- Tweet /home/u249204778/domains/spectator.com.gh/public_html/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 72
https://spectator.com.gh/wp-content/uploads/2024/08/20240808_083941.jpg&description=Economic challenges due to high exchange rate – ISSER', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
The Institute of Statistical, Social and Economic Research (ISSER) at the University of Ghana has attributed rising labour agitations, high business costs, and the collapse of some businesses to the high foreign exchange rates and inflation.
This finding is sourced from the Institute’s assessment of the recent mid-year budget review presented by the Minister of Finance, Dr. Mohammed Amin Adam.
According to the report, in the first half of 2024, the cedi depreciated by 18.6% against the US Dollar, 17.9% against the Pound Sterling, and 16.0% against the Euro.
In 2023, the cedi depreciated by 27.8% against the US Dollar, 31.9% against the Pound Sterling, and 30.3% against the Euro.
In 2022, the cedi depreciated by 30.0% against the US Dollar, 21.2% against the Pound Sterling, and 25.3% against the Euro.
“This suggests some stabilization of the exchange rate over the past three years,” the report stated.
The report added that, aside from January, the cedi was generally more volatile against major foreign currencies (Dollar, Euro, and Pound) in the first half of 2024 compared to the same period last year.
Despite the increased volatility in 2024, the cumulative depreciation rates were relatively lower. The report urged the government to take further steps to reduce the rate of cedi depreciation against major trading currencies and to increase exports to lessen the demand for foreign exchange.
“It also recommended that the central bank enforce forex regulations more strictly and increase its presence in the exchange rate market.
With respect to inflation, the Institute referenced June 2024 inflation, which decreased to 22.8 per cent, adding that it represented a significant drop from the peak of 54.6 per cent in December 2022.
The Institute added: “However, compared to the inflation of 12.6 per cent in December 2021, this figure is still high,”
ISSER urged the government to examine the commodities driving inflation and commit to addressing the underlying factors.
“For instance, improving the road network in areas designated as the food basket of Ghana and reducing foreign exchange rates can help lower transportation costs and fuel costs, consequently reducing food and non-food inflation to single digits”, the report noted.
Source: Citinewsroom.com
News
Accra’s waste problem worsened after transfer stations were closed-Okoe Vanderpuije

Former Accra Mayor and Ablekuma South MP, Dr Alfred Okoe Vanderpuije, has revealed that Accra’s waste management challenges became worse after waste transfer stations in the city were closed.
Speaking in an interview at TV3 on Sunday August 2, 2026, he said that during his tenure as Mayor, all waste management companies operating in Accra were registered and given contracts to collect refuse.
According to him, operators of tricycles, popularly known as “aboboyaa,” were required to take waste to designated transfer stations, where waste management companies would collect it and transport it to final disposal sites.
“We developed the transfer stations so that aboboyaa operators would collect refuse and bring it there, and the waste management companies would take it to the final destination,” he stated.
Dr Vanderpuije said the system worked during his time in office and that all the transfer stations remained operational until the recent floods.
He expressed concern that some aboboyaa operators are now dumping refuse indiscriminately while local assemblies fail to enforce sanitation regulations.
He said his administration gave strict instructions that waste should only be dumped at approved transfer stations.
The former mayor also revealed that the Accra Metropolitan Assembly had developed a broader waste and drainage improvement plan known as the “Conti Project.”
According to him, the project included the construction of scientifically engineered waste management centres, the reconstruction of old drainage systems, dredging of major drains such as the Odaw, and improvements to roads linked to waste disposal facilities.
He argued that if the project had been fully implemented, Accra would have had a more effective and modern waste management system.
Dr Vanderpuije blamed the current situation partly on a lack of continuity in policy implementation after his tenure ended.
Asked why later interventions had not solved the problem, he said governments had failed to adopt a comprehensive approach.
“We have not done a comprehensive approach,” he said, explaining that drainage, refuse collection, waste disposal and road infrastructure should be addressed together rather than separately.
He raised concerns about the current administrative structure of Accra, which has been divided into several metropolitan and municipal assemblies.
According to him, stronger coordination is needed among the assemblies, led by the Greater Accra Regional Coordinating Council and the responsible minister, to develop and implement a unified waste management strategy for the capital.
By: Jacob Aggrey
News
Ghana Athletics endorses Tampico Accra Inter-City Marathon

The governing body of athletics in Ghana, has endorsed the Tampico Accra Inter-City Marathon, fixed for Saturday, October 10, 2026.
The Ghana Athletics in correspondence to the organisers, Medivents Consult said, it will provide the necessary support for the successful organization of the race.
The letter said, the Ghana Athletics will for the first time introduce electronic timing system at the race, adding that, the gadgets will provide accurate timing, and prevent cheating.
This, it said will also help the winners of the event to register and participate in international events after the race.
The 2026 Tampico Accra Inter-City Marathon will be in two categories; 21-kilometers and 5-kiklometers and its opened to athletes, fitness clubs, and all race lovers.
The race will commence at the Trust Sport Emporium (Bukom Boxing Arena), through some principal streets of Accra, with the finish point, at the same spot.
According to the organisers, the race will provide participants with a wonderful experience of racing through some beautiful and historic streets in Accra, and will be served with fun and entertainment at the finish point.
Outstanding winners will take home cash prizes, medals, souvenirs from sponsors among other








