{"id":9742,"date":"2022-09-23T09:14:40","date_gmt":"2022-09-23T09:14:40","guid":{"rendered":"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/as-demand-continues-to-exceed-demand-the-leone-would-devalue-up-to-le2-000-to-the"},"modified":"2022-09-23T09:21:05","modified_gmt":"2022-09-23T09:21:05","slug":"as-demand-continues-to-exceed-demand-the-leone-would-devalue-up-to-le2-000-to-the","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/as-demand-continues-to-exceed-demand-the-leone-would-devalue-up-to-le2-000-to-the","title":{"rendered":"As Demand Continues To Exceed Demand, The Leone Would Devalue Up To Le2 (000) To The $\u2026"},"content":{"rendered":"

Africa-Press – Sierra-Leone. <\/strong><\/span>Central Bank Governor, Professor Kelfala Kallon<\/p>\n

By Ranger<\/b><\/p>\n

Central Bank Governor warned last year that the Bank would not be able to control inflation and devaluation of the Leone against the World\u2019s major trading currency, the Dollar, if macroeconomic fundamentals remained the same.<\/p>\n

Governor Kallon said this when he announced that the Bank will sell Dollars in a bid to stabilize the value of the Leone. As a classical economist, Governor Kallon knows that the basic dynamics of the subject rest on the principle of demand and supply. So the Bank Governor\u2019s dilemma in controlling inflation rested on his knowledge that demand for the Dollar for various purposes far exceeds its supply (availability).<\/p>\n

Thus, under the law of demand and supply, if the demand for Dollars continues to exceed supply, then what will happen to the value of the Leone?<\/p>\n

So prediction by The Calabash that if the country\u2019s macroeconomic fundamentals are not reordered to either increase the amount of Dollars to meet demand, or reduce the demand for it, then by the laws of demand and supply, more Leones will be used to buy fewer dollars. Of course, the effect of this on the prices of all imported goods and services would go up, as they are doing now.<\/p>\n

The Economics textbooks state that there is no quick fix to the problem of a country earning less foreign exchange than the amount it uses to import.<\/p>\n

This is why low income countries like Sierra Leone which have very little to export in terms of value will continue to experience deficit balance of trade, devaluation and rising costs of all goods and services \u2013 both imported and local.<\/p>\n

For More News And Analysis About Sierra-Leone<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Sierra-Leone. Central Bank Governor, Professor Kelfala Kallon By Ranger Central Bank Governor warned last year that the Bank would not be able to control inflation and devaluation of the Leone against the World\u2019s major trading currency, the Dollar, if macroeconomic fundamentals remained the same. Governor Kallon said this when he announced that the […]<\/p>\n","protected":false},"author":84,"featured_media":9741,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[291,293,292],"class_list":["post-9742","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-sierra-leone","tag-sierra-leone"],"yoast_head":"\nAs Demand Continues To Exceed Demand, The Leone Would Devalue Up To Le2 (000) To The $\u2026 - Sierra Leone<\/title>\n<meta name=\"description\" content=\"Central Bank Governor, Professor Kelfala Kallon By Ranger Central Bank Governor warned last year that the Bank ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/as-demand-continues-to-exceed-demand-the-leone-would-devalue-up-to-le2-000-to-the\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"As Demand Continues To Exceed Demand, The Leone Would Devalue Up To Le2 (000) To The $\u2026\" \/>\n<meta property=\"og:description\" content=\"Central Bank Governor, Professor Kelfala Kallon By Ranger Central Bank Governor warned last year that the Bank ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/as-demand-continues-to-exceed-demand-the-leone-would-devalue-up-to-le2-000-to-the\" \/>\n<meta property=\"og:site_name\" content=\"Sierra Leone\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-23T09:14:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-09-23T09:21:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/sierra-leone\/sites\/16\/2022\/09\/postQueueImg_9-632d7a65d63a1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/as-demand-continues-to-exceed-demand-the-leone-would-devalue-up-to-le2-000-to-the#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/as-demand-continues-to-exceed-demand-the-leone-would-devalue-up-to-le2-000-to-the\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"As Demand Continues To Exceed Demand, The Leone Would Devalue Up To Le2 (000) To The $\u2026\",\"datePublished\":\"2022-09-23T09:14:40+00:00\",\"dateModified\":\"2022-09-23T09:21:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/as-demand-continues-to-exceed-demand-the-leone-would-devalue-up-to-le2-000-to-the\"},\"wordCount\":307,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/as-demand-continues-to-exceed-demand-the-leone-would-devalue-up-to-le2-000-to-the#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/sierra-leone\/sites\/16\/2022\/09\/postQueueImg_9-632d7a65d63a1.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Sierra-Leone\",\"Sierra-Leone\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/as-demand-continues-to-exceed-demand-the-leone-would-devalue-up-to-le2-000-to-the#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/as-demand-continues-to-exceed-demand-the-leone-would-devalue-up-to-le2-000-to-the\",\"url\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/as-demand-continues-to-exceed-demand-the-leone-would-devalue-up-to-le2-000-to-the\",\"name\":\"As Demand Continues To Exceed Demand, The Leone Would Devalue Up To Le2 (000) To The $\u2026 - 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