GOLDBOD Credited for Cedi Stability—Hosi Hails Gold Programme’s Economic Impact!
Senyo K. Hosi, an entrepreneur and finance and economic policy analyst, says that Ghana’s currency stability will get better in 2025 because the GOLDBOD-operated Domestic Gold Purchase Program has made people more confident in the economy.
He says that GOLDBOD gave a steady and predictable source of foreign exchange by sending gold exports to official reserves and foreign exchange markets.
Hosi says, “Markets respond to certainty, and GOLDBOD brought certainty into our gold trade.”
Hosi says that this confidence led to real changes in the economy, such as the cedi’s rise in value, lower inflation, and less volatility in the foreign exchange market.
He calls the results “rare but welcome in an IMF-supported adjustment program.”
Hosi also says that it was very important for fiscal and monetary policy to be in line with the DGPP.
“This was not an accident; it was coordinated policy execution,” he says, adding that the Bank of Ghana’s reserve buildup made the program more credible.
He says that GOLDBOD’s role should be seen as more strategic than transactional.
Hosi says that “it has become a stabilizing institution in Ghana’s economic architecture” and calls for continued support to make it even more effective.
