Stabilization of the Cedi Against the Dollar Is Artificial, Not Driven by Market Forces – Asenso-Boakye
MP Francis Asenso-Boakye says the cedi’s apparent stability is the result of government intervention, not market forces, highlighting prudent economic management by the NPP.
- Cedi stabilization is due to government intervention, not market forces
- NPP’s prudent economic management credited for maintaining stability
- First-term performance matters, but sustainability is key, says Asenso-Boakye
Francis Asenso-Boakye, Member of Parliament for Bantama Constituency, has stated that the recent stabilization of the Ghanaian cedi against the US dollar is the result of deliberate government intervention rather than market-driven forces.
Speaking in an interview on the Lawson TV Ghana Se Sen Morning Show with Kwame Tanko, Asenso-Boakye explained that while the cedi appears stable, this outcome is not a reflection of private sector activity but rather a product of careful management and policy measures by the government.
“It was prudent management of the economy under the NPP that led to the stabilization of the cedi against the dollar. This is an artificial stabilization, not something driven by market forces,” he said.
Asenso-Boakye noted that the NPP’s economic policies prior to the COVID-19 pandemic contributed significantly to the country’s economic growth, and while challenges such as the pandemic affected performance, the government’s interventions helped maintain stability in key areas.
The MP stressed that first-term governments often perform well economically, but sustainability and deliberate policy actions are what determine long-term success.
