Ghana Gold Coin not solution to cedi depreciation – Bokpin

Economist Professor Godfred Bokpin has criticized the Ghana Gold Coin initiative, recently launched by the Bank of Ghana (BoG) to combat the cedi's depreciation.

While the gold coin aims to reduce dollar hoarding and absorb excess liquidity in the market, Bokpin argues it is not a comprehensive solution.

He emphasized that the underlying issues affecting the cedi's value—such as lack of confidence, fiscal discipline, and over-reliance on imports—must be addressed.

Bokpin welcomes the initiative as an alternative but warns it should not replace sound economic management practices essential for stabilizing the currency.