econgirl
  • Home
  • blog
  • Recipes
  • Links
  • Liz's 15 Minute Guides

BLOG

Ghana needs a free silver movement

5/8/2010

0 Comments

 
Picture
Wanted: Small Change
I am currently obsessed with change. Going to the market is an exercise in retaining as much small change as possible.  

I was warned to jealously guard my one cedi notes and coins, but I did not realize how important this would be until I was trying to buy lunch the other day.  I walked up and down the street, but no one could sell me fried cheese or avocados and give me change for my ten cedis.  I was starved by the time I decided to go to the canteen and buy a full plate of jollof rice. 

Although my problem with small change is likely exacerbated by the disparity in income between me and most of the people living in Tamale (I take 100 cedis (about $70) out of the ATM at a time, where many people may earn only a few cedis a day), I believe the lack of small change is a problem for everyone.  Many things are sold for less than 1 cedi, yet 10 cedi notes are prolific and coins are rare.  I have heard there are businesses that will trade you 9 one cedi notes for your 10 cedi note. This problem may also be related to the recent re-denomination of the cedi; several years ago they chopped four zeros off the currency; what sold for 10000 cedis is now 1 cedi.  
 
0 Comments



Leave a Reply.

    About Liz

    I have worked in economic policy and research in Washington, D.C. and Ghana. My husband and I recently moved to Guyana, where I am working for the Ministry of Finance. I like riding motorcycle, outdoor sports, foreign currencies, capybaras, and having opinions. 

    Archives

    December 2016
    November 2016
    July 2016
    February 2016
    January 2016
    December 2015
    November 2015
    March 2013
    February 2013
    November 2012
    October 2012
    September 2012
    August 2012
    July 2012
    June 2012
    May 2012
    April 2012
    March 2012
    February 2012
    January 2012
    November 2011
    October 2011
    September 2011
    August 2011
    July 2011
    June 2011
    May 2011
    April 2011
    March 2011
    February 2011
    January 2011
    October 2010
    August 2010
    July 2010
    May 2010
    April 2010
    March 2010
    February 2010
    January 2010
    December 2009
    November 2009
    October 2009
    September 2009
    February 2009
    January 2009

    Categories

    All
    Auto Industry
    Behavioral Economics
    Budget
    China
    Conflict
    Corruption
    Crime
    Currency
    Development
    Dollar
    Economic Data
    Economists
    Environment
    Fashion
    Federal Reserve
    Finance
    Food
    Gender
    Ghana
    Haiti
    Health Care
    India
    Inflation
    Microeconomics
    Money
    Politics
    Poverty
    Race
    Rcts
    Reading Recommendations
    Regulation
    Religion
    Sports
    Stimulus
    Survey
    Taxes
    Technology
    Trade
    Travel
    Viewing Recommendations

    RSS Feed

Powered by Create your own unique website with customizable templates.
  • Home
  • blog
  • Recipes
  • Links
  • Liz's 15 Minute Guides