The Member of Parliament for Okaikwei Central, Patrick Boamah, has called on the Bank of Ghana to suspend its continuous injection of foreign exchange into the economy to stabilise the cedi.
Speaking to Citi News on Wednesday, January 28, Patrick Boamah urged that the economy be allowed to adjust naturally to achieve stability that truly reflects the cost of living.
He argued that the estimated $10 billion injected into the economy so far by the Central Bank could have been redirected toward critical infrastructure development.
“The economy must be allowed to run on its legs so that we know where we are, rather than putting the economy on steroids.
“Because if you tell me that the economy is good, inflation is at 5%, yet prices are not stable. They keep changing. That means there’s a problem, there’s a disconnect,” he said.
His comments come after the Bank of Ghana (BoG) injected about $10 billion into the forex market between January 2025 and December 2025 to help stabilise the cedi.
This was the total amount it sold to commercial banks and businesses to meet their dollar needs, a move that has significantly supported the stability of the currency.
The intervention spans January to the first week of December 2025 and forms part of what officials describe as “dollar intervention.”
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Source: CNR
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