Economic and fiscal expert, Julius Gyimah, has highlighted deflation as one of the major immediate benefits of the IMF loan approval Ghanaians will enjoy.
Speaking in an interview with Kwaku Dawuro on Movement In The Morning, on Movement TV/Wontumi radio, Julius Gyimah made it known that there will be a decrease in prices of goods such as oil, and dollar depreciation to ease the current hardship in the economy.
In response to the benefits of the imf loan, Julius said ”Now the immediate benefit Ghanaians will enjoy is dollar depreciation which will lead to price reduction of oil, reduction in transport fares, coupled with the global supply of crude oil. When there’s a price reduction in all those things, it helps Ghanaians to save more because you will be able to purchase more things with the cedi. With our current situation, you can only purchase a few things with Gh100 or Gh500, so you tend to question yourself afterwards, so with the incoming Gh600 million it is going to cause a deflation.”