Manager of Macroeconomic Research at the Ghana Commercial Bank, Courage Boti has called on the government to use the forthcoming national budget in March to inspire confidence in the financial market and alleviate pressure on the Ghanaian Cedi.
Mr. Boti’s comments come as the demand for dollars surged in January, leading to renewed pressure on the Cedi last week.
He emphasized the importance of proactive measures to reassure market participants and stabilize the currency.
“You need to give people the sense that something has changed. You need to give them the sense that discipline will be continued,” he said in an interview on Joy News.
While acknowledging the programme’s good intention, he underscored the need for strategic communication and interventions to address market concerns.
He said the programme needs to prioritize sustainability, emphasizing that while there are both opportunities and risks, the government must ensure disciplined spending and avoid exacerbating fiscal gaps.
“We’ll be managing communication around this, and it will be also the proactive interventions government can do to allay the fears of the market.” he stressed.
Read also: John Mahama Names 9 Additional Ministers of State and 3 Regional Ministers
