By:Kenneth Appiah Bani
The Governor of the Bank of Ghana (BoG), Dr. Johnson Pandit Asiama, has firmly refuted suggestions that the central bank is artificially propping up the Ghanaian cedi.
Addressing participants at the 9th Ghana CEO Summit held at the Kempinski Hotel Gold Coast City in Accra, Dr. Asiama attributed the recent stability and modest appreciation of the cedi to sound economic management rather than short-term interventions or manipulation.
He emphasized that the currency’s performance is underpinned by disciplined monetary policy, improved foreign exchange auction reforms, enhanced remittance systems, and stricter market oversight all of which contribute to a more resilient financial environment.
“These are not cosmetic measures,” Dr. Asiama stated. “They are part of a broader strategy to build a stable and sustainable macroeconomic framework.”
The Governor also dispelled concerns that the BoG is relying on its international reserves to artificially maintain the cedi’s strength. He stressed that the Bank is not engaging in unsustainable interventions aimed at forcing an appreciation of the currency.
“Our goal is long-term stability, not short-term gains,” he added.
The summit, which brought together business leaders, policymakers, and economists, also featured the presence of President John Dramani Mahama, underscoring the event’s national significance.
Video credit:BoG
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