1 DOLLAR =GHC4.20 BY ENF OF THE YEAR??

Standard Chartered Bank is predicting a GH
¢4.20 rate depreciation against the U.S dollar by
the end of year.
The prediction was contained in a report issued
by the research wing of the bank responsible for
Africa.
The report authored by the bank's head of
Africa research, Razia Khan, gives the outlook
for 8 economics in Africa, including Ghana,
Nigeria and South Africa.
Razia Khan has maintained that the 4 Ghana
cedis 20 pesewas could be revised if Ghana
secures a program with the IMF.
She also notes that an IMF program will be key
to maintaining investor confidence in the
economy going forward.
The report notes although this is an end of year
target by the bank, it also expects some
marginal pressure on the cedi in the early
months of this year because of moves by some
companies to restock mainly by importation.
However, currency analyst, Kofi Ampah, has
argued that the pressure being experienced is
just normal and that the local currency will
bounce back to winning ways soon.
Some analysts also see the report as similar to
predictions about 2014 by various experts which
never materialized.
The Standard Chartered bank report is also
predicting a 5.4 percent economic growth for
the country by end of year.
This figure is far higher than government's own
projection of 3.9 percent. Standard Chartered
also adds that Ghana's crude oil import bill will
reduce substantially to between 300 and 500
dollars from almost 1 billion when that Gas
infrastructure project is completed.