We must ensure cedi strengthening is not artificially engineered

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Vice President of policy think tank IMANI Africa, Kofi Bentil, has cautioned against what he describes as the “artificial engineering” of the Ghanaian cedi’s recent appreciation, urging policymakers to adopt a more cautious and transparent approach to currency stabilisation.

Speaking on JoyNews’ Newsfile on Saturday, Mr Bentil acknowledged the efforts being made to strengthen the cedi but warned that any such gains must be underpinned by real economic fundamentals rather than temporary or superficial measures.

“Much as I appreciate what is happening in strengthening the cedi, they must be careful not to make it too artificial,” he said.

Mr Bentil also noted that Ghana had already received cautionary signals from elsewhere and should avoid repeating mistakes seen in other economies.

“We have already gotten a warning from other places about losing your hand on this kind of artificial cedi strengthening... and I think we must be careful about that.”

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Kofi Bentil