IERPP questions US$18bn Bank of Ghana forex interventions and 24-Hour Economy funding

The Institute of Economic Research and Public Policy (IERPP) is questioning the scale of Ghana’s foreign exchange interventions, saying that the reported US$18 billion used to support the cedi could have significant opportunity costs for the economy.

The institute is similarly demanding greater clarity on the reported US$4 billion financing requirement for the 24-Hour Economy, including what the money will finance, the expected number of jobs, the sectors and regions to benefit and safeguards against inefficient public spending.

In a statement issued on Wednesday, August 12, IERPP contrasted this figure with the government’s estimated US$4 billion financing requirement for the 24-Hour Economy policy.