Ghanaian Cedi

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Related to cedi: pesewa, CDI, SEDI

Ghanaian Cedi

The currency of Ghana. The first cedi was issued in 1965 and was pegged to the British pound. Two years later, the second cedi was issued with a different peg. It briefly floated in the late 1970s but was subject to high inflation. To counteract the inflation, the third cedi was issued in 2007, after which inflation eased significantly.
References in periodicals archive ?
She was given vital funding to get her idea off the ground by the Prince's Trust and the East Durham Business Service but it was CEDI which gave Vanessa the expertise to achieve her dream.
Derided by critics as the worst performing currency in the world, the cedi has been the most visible indicator of how bad things have been for the country once considered Africa's economic star.
2] than other CEDI systems on the market today ("thick-cell CEDI").
The cedi floats, which helps the economy adjust to movements in terms of trade and other external shocks, but the pass-through to inflation is high.
Ghana will not call its exercise 'demonitisation', rather it is a 're-denomination'; but whatever name or term it comes with, the new currency, to be called 'Ghana cedi' (or GH cedi), will replace the current cedi which has been struggling against the world's major currencies since the Rawlings PNDC government bowed to IMF pressure and devalued it in April 1983.
But if the cedi bonds are linked to the treasury bill rate, that would give the investor a net return as treasury bill rates in Ghana are priced higher than inflation, said John Ofosu Awuk, a money manager at NDK Asset Management.
The "melting" process is aided and abetted by the fact that one cannot change even a few floaters (floating US dollars, whose rate of exchange "floats" or changes from day to day) without having one's pockets filled with cedi notes.
The Sekondi-Takoradi Industrial City Project in southern Ghana is being funded under a loan facility approved by the China Development Bank and a 2 million Cedi grant from the Urban Development Grant (UDG).