Financial analyst Dr. Michael Kwaku Dawson has urged Dr. John Kwakye, the Director of Research at the Institute of Economic Affairs (IEA), to reveal the long-term solutions he proposed for ensuring cedi stability during his tenure on the Monetary Policy Committee (MPC) for almost ten years.

This follows Dr. Kwakye’s criticism of the Central Bank for failing to effectively stabilize the local currency.

"I know that Dr. Kwakye served on the MPC for a significant period. What solutions did he suggest for cedi stability? I hear him commenting daily on the BoG Inflation Targeting framework and monetary policy issues. What alternative options or frameworks has he proposed? I believe he should contribute solutions rather than just criticism. Actions speak louder than words," Dr. Dawson stated.

He also cautioned economists and financial analysts to be careful with their statements, as they can negatively impact the economy.

"We share one economy. Any negative impacts are felt by all, not just financial entities," Dr. Dawson emphasised.

The financial analyst commended the central bank for launching the Ghana Gold Coin initiative, recognizing it as a valuable investment opportunity for the public.

He expressed optimism that the initiative would help ease pressure on the local currency, offering an alternative for individuals who typically bought dollars for investment, encouraging them to consider purchasing gold coins instead.

"This is an innovative concept, and I believe the BoG is providing the public with an alternative investment option to purchasing and hoarding dollars," Dr. Dawson remarked.

In his final comments, Dr. Dawson recognized the Bank's efforts to stabilize the cedi against other currencies but encouraged the public to back the Bank in achieving its goals.