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Patrick Boamah urges Bank of Ghana to suspend forex injections
Member of Parliament for Okaikwei Central, Patrick Boamah, has called on the Bank of Ghana to suspend its continuous foreign exchange injections, arguing that the economy must be allowed to adjust naturally to reflect the true cost of living.
Mr Boamah raised concerns about the amount of money being used to stabilise the cedi, questioning the long term impact of such interventions on national development.
He pointed out that government has spent about 10 billion dollars to support the currency, describing the figure as excessive.
According to him, allowing the economy to run on its own could have saved the country significant funds that could be used for development projects.
Mr Boamah explained that he was speaking as a lay person and not as an economist, but insisted that strong and practical economic policies should reduce the need to constantly support the currency.
He questioned why the state would continue to hold up the cedi with huge sums of money instead of allowing the economy to stand on its own.
He stressed that the key issue is the cost of such interventions to the state and how that compares with Ghana’s pressing development needs.
The Okaikwei Central MP argued that the Bank of Ghana should reduce its role in propping up the currency and allow market forces to reflect the real state of the economy.
In his view, constant intervention only masks underlying problems and creates a false sense of stability.
Mr Boamah noted that while official figures indicate inflation is around five percent, prices of goods and services continue to rise, creating a disconnect between economic data and the lived reality of Ghanaians.
He cited the changing prices of basic items such as bottled water as an example of how cost of living does not align with inflation figures being presented.
He raised concerns about transport fares, questioning why drivers are arrested over pricing disputes while the cost of living keeps rising.
According to him, these everyday experiences highlight the need to look beyond economic statistics and focus on the real conditions people face.
Mr Boamah maintained that allowing the economy to run on its own would provide a clearer picture of Ghana’s economic health and help policymakers take more realistic decisions.
By: Jacob Aggrey
The Ghana Tourism Development Company, GTDC, under the leadership of Prof.Kobby Mensah has launched GTDC Campus Tourism Office at the University of Ghana.
The initiative aims to promote educational and domestic tourism by providing structured campus tour experiences showcasing key heritage sites, including the Archaeology Museum and the School of Performing Arts.
It will also offer students their first travel experience across the continent and inculcate in them love to visit Ghana’s heritage sites.
Addressing the gathering at the launch yesterday, the Minister of Tourism, Culture and Creative Arts, Abla Dzifa Gomashie, described tourism as a vehicle for education and heritage preservation, stressing that the sector must inspire citizens to value and protect national culture for future generations.
The minister highlighted tourism’s connection to disciplines such as history, the arts, economics and environmental science.
The minister further noted that the private sector is the engine of tourism economy, adding that the engines require fuel, which is talents.” by investing in these young people today, you are securing the quality, the innovation and competitiveness of our own industry for tomorrow.
She added that the establishment of the office represents a deliberate investment in the intellectual capital of the country.
The GTDC boss, Prof.Kobby Mensah, said,”at GTDC, we believe that if our tourism has to be sustainable, we have to promote domestic tourism and a very big part of it is getting students to appreciate tourism and helping them to organise tours.”
He added that the University of Ghana itself is a huge heritage site which must be explored.
Prof.Kobby Mensah noted that the initiative, which is one of many to be established across the country, is a joint partnership between GTDC and University of Ghana.
The Vice Chancellor of the University, Prof.Nana Aba Appiah Amfo, said the University is a custodian of heritage which goes beyond the structures and welcomed the establishment of the first Campus Tourism Office.
She was optimistic that the office would be put to good use to achieve the intended purpose.
The launch brought together Stakeholders reaffirming their commitment to nurturing future tourism and hospitality professionals.
By Edem Mensah-Tsotorme
Ghana has officially accepted an invitation to serve as Guest Country at Burkina Faso’s 22nd National Culture Week in Bobo-Dioulasso from April 22 to May 2, 2026.
The invitation was extended by Burkina Faso’s Minister of Communication, Culture, Arts and Tourism, Gilbert Noël Ouédraogo, accompanied by the Ambassador of Burkina Faso to Ghana, H.E. David Kabré.
Receiving the delegation, Abla Dzifa Gomashie reaffirmed Ghana’s commitment to deepening cultural diplomacy and strengthening historic ties between the two nations.
She noted that the festival will create opportunities for young creatives, expand exhibition platforms and promote commercial exchange within the creative sector.
The event will feature cultural performances, a community village and gastronomy fair, an arts market, literary engagements, and a craft and trade fair.
Ghana’s participation is expected to further strengthen bilateral relations between John Dramani Mahama and Ibrahim Traoré, while fostering collaboration within the creative ecosystems of both countries.
