Some analysts have wondered whether or not the Cedi’s resurgence will be sustainable beyond the general elections.
For instance, the Director of Research at the Institute of Economic Affairs (IEA) Dr John Kwakye noted that the recent cedi appreciation is due to deliberate intervention by the Bank of Ghana (BoG) ahead of the election.
“It’s got nothing to do with improved economic fundamentals,” he said.
He expresses the view that “The real test will come after the election.”
The Cedi declined steeply from 2021 reaching 17.
A month to the election, Dr Kwakye notes that it has sharply appreciated to below 15 due to BoG intervention.
