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

Ultimately, the most sustainable currency stability is one supported by strong domestic production, diversified exports, adequate foreign exchange earnings, and sound macroeconomic management—not one that depends disproportionately on the central bank injecting enormous amounts of dollars into the market every month.

When a domestic currency appreciates or maintains its value primarily because of sustained central bank interventions, rather than improvements in the economy's underlying productive capacity and foreign exchange-generating potential, such stability may be considered intervention-dependent and potentially unsustainable.

As the relief associated with the restructuring diminishes and external debt-service obligations increase, the BoG may find it increasingly difficult to sustain interventions at the current scale, particularly if foreign exchange inflows weaken.