FITCH Ratings, the leading provider of credit ratings, commentary and research firm, warned Bank of
According to a statement released by agency, it indicated that printing money "will aggravate already high inflation (14.7 percent in
The cedi has fallen 21 percent since the start of the year.
This has adversely affected the economy as local businesses are facing the brunt coupled with unstable power supply and rising cost of fuel prices.
The BoG in February instituted some measures to halt the cedi depreciation but currency continues to fall.
The government has also introduced new taxes to rake in more revenue, a policy which has ignited huge public outrage.
Fitch is however predicting that
"The Fiscal and external vulnerabilities have mounted in
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