Akufo-Addo’s role in the artificial cedi stability is indisputable — Facts do not bend to political convenience

One of the least intellectually defensible arguments is the tendency to ridicule experts for describing "THE CURRENT STABILITY OF THE CEDI AS ARTIFICIAL WHILE ALSO INDICATING THAT AKUFO-ADDO’S ADMINISTRATION HAS A HAND IN IT". Supporters of the government must understand that individual ignorance does not imply universal ignorance. Economic phenomena are often more complex than political rhetoric suggests. To begin with, the Bank of Ghana (BoG) intensified its foreign exchange interventions in April 2025, when the US dollar was trading at approximately GH¢14.90. These aggressive interventions were facilitated, in part, by the foreign exchange reserves accumulated before the change of government. Ghana reportedly had reserves of approximately US$9 billion at the end of the Akufo-Addo administration. Without sufficient reserves, the BoG would have faced significant constraints in financing interventions on that scale. THIS IS NOT AN ENDORSEMENT OF THE AGGRESSIVE INTERVENTIONS; RATHER, IT IS AN ACKNOWLEDGEMENT OF THE ECONOMIC CONDITIONS THAT MADE THEM POSSIBLE.