The Member of Parliament for Ekumfi, Othniel Ekow Kwainoe, has praised the leadership of the Bank of Ghana as proactive, highlighting its monetary policy measures as key drivers behind Ghana’s improving economic outlook.
Speaking on Citi Eyewitness News on Wednesday, March 4, the lawmaker, who also serves on Parliament’s Trade, Industry and Tourism Committee, said the country’s economic management reflects a deliberate and responsible effort to stabilise critical sectors.
According to Dr. Kwainoe, the governing National Democratic Congress has implemented policies that are strengthening the cedi against the dollar, providing relief to Ghanaian importers and businesses reliant on foreign exchange.
He also pointed to Ghana’s rising reserves as a sign of renewed investor confidence, noting that reserves have increased from $8.9 billion to $13.8 billion — a development he described as a positive signal for the broader economy.
Dr. Kwainoe dismissed claims from sections of the Minority that the government is artificially injecting money into the economy to create a false impression of stability.
“I think the word to be used is intervention. That is what the Central Bank does. The Central Bank of today is not the same as yesterday. If you look at the kind of work and discipline they have used in our monetary policy operations, it is something we have not seen.
“They have become very proactive in the market. They don’t wait for things to happen before they make a decision. This is an economy that relies on domestic funding to do its own things,” he stated.
He maintained that strategic interventions by the Central Bank are essential tools for managing a developing economy and should not be misconstrued as manipulation.
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