The Governor of the Bank of Ghana, Dr.
Johnson Asiamah, has dismissed claims that the central bank is artificially propping up the Ghanaian Cedi, following its recent strong performance against the US dollar.
Speaking at the 9th Ghana CEO Summit held in Accra on Monday, May 26, Dr.
Asiamah attributed the Cedi's appreciation to structural reforms and prudent economic management under the new Mahama-led administration. "Our Cedi has appreciated by 24.1% against the US dollar," he stated. "Let me emphasise that the Central Bank is not using international reserves to prop up the Cedi, nor are we engineering an unsustainable appreciation." Dr.
