Ghana: Mahama established Exim Bank to tackle cedi depreciation

• Mahama tackled woes of cedi with Exim Bank, former finance minister Seth Terkper has said • He believes an Exim Bank is necessary to shore up the cedi • Mr Terpker said John Dramani Mahama in 2016 established the Ghana Export and Import Bank to turn the economy into an export-driven one Former Finance Minister, Seth Terkper, has said the John Mahama-led government introduced the Exim Bank to address the woes of the cedi. According to him, his government took a cue from developed economies around the world establishing an Exim Bank to help their currency stability. This, he said, contributed to the decision by the Mahama-led administration to put up the Ghana Export and Import (EXIM) Bank to give cedi denominated loans to businesses to enable them to produce their goods for export. Speaking on Onua FM, the former finance minister said “One of the things I say about Mahama administration is that we looked at this thing and said what do we need to do ...