![\"\"](\"https:\/\/www.fishfmonline.com\/wp-content\/uploads\/2025\/07\/IERPP1.png\")
<\/a> ![\"\"](\"https:\/\/www.fishfmonline.com\/wp-content\/uploads\/2025\/07\/IERPP2-1.png\")
<\/a><\/p>\nThe Institute of Economic and Research Policy Promotion (IERPP), says it has been vindicated by the IMF’s expression of concern and caution to the government over its control of the stability of the Cedi.<\/p>\n
The Executive Board of the IMF, in its fourth review under the Extended Credit Facility Arrangement with Ghana, expressed concern about how the government has been pumping in forex to support the Cedi against major currencies, instead of allowing market factors to determine the stability of the local currency.<\/p>\n
\u201cThe Bank of Ghana should maintain an appropriately tight monetary stance until inflation returns to its target, reduce its footprint in the foreign exchange market, and allow for greater exchange rate flexibility, including by adopting a formal internal FX intervention policy framework,” wrote the IMF in its review.<\/p>\n
In a statement signed by its Executive Director, Prof. Isaac Boadi, who is also the Dean, Faculty of Accounting and Finance, UPSA, the IERP said it offered a similar caution to the government but its advice fell on deaf ears.<\/p>\n
According to the IERPP, these warnings from IMF do not validate but vindicate its concerns that “the government was deliberately injecting large amounts of dollars into the system to prop up the cedi\u2019s value.”<\/p>\n
\u201cWhile this may make the currency look stable in the short term, it distorts market dynamics, encourages cheap imports, and hurts local production \u2014 a toxic combination for long-term economic health.\u201d<\/p>\n
\u201cTo date, BoG has not adopted a clear, published FX intervention framework. Its market operations remain ad hoc and opaque, leading to uncertainty and speculation. Instead of allowing the exchange rate to reflect actual market forces, the BoG continued aggressive dollar sales, particularly during sensitive periods. This short-term tactic masked deeper economic issues, exactly what both institutions cautioned against.\u201d<\/p>\n
\u201cDespite these aligned warnings, the actions taken by the BoG and government show a clear disregard for both the IMF and IERPP advice.”<\/p>\n
Below is the full statement by the IERPP:<\/p>\n
The Institute of Economic and Research Policy Promotion (IERPP), says it has been vindicated by the IMF’s expression of concern and caution to the government over its control of the stability of the Cedi. The Executive Board of the IMF, in its fourth review under the Extended Credit Facility Arrangement with Ghana, expressed concern about […]<\/p>\n","protected":false},"author":123457,"featured_media":11607,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[3525,41],"tags":[984,3678,163],"class_list":["post-11602","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-general-news","tag-cedi","tag-ierp","tag-imf"],"_links":{"self":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/11602","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/users\/123457"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11602"}],"version-history":[{"count":2,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/11602\/revisions"}],"predecessor-version":[{"id":11606,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/11602\/revisions\/11606"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/media\/11607"}],"wp:attachment":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}<\/a> <\/a><\/p>\nDisclaimer: The content provided on Fish FM Online is for informational and entertainment purposes only. While we strive for accuracy, we do not guarantee the completeness, reliability, or timeliness of the information presented. Fish FM Online and its affiliates are not responsible for any errors or omissions, nor for any decisions made based on the content available on our platform.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"