The Asantehene, Otumfuo Osei Tutu II, has issued a powerful cautionary message on the devastating impact of currency instability, warning that a wobbling cedi can wreak more havoc than even natural disasters.
Speaking during a significant visit to the Bank of Ghana on Monday, the Asante monarch emphasized the crucial role the Central Bank plays in maintaining national economic stability, particularly in managing the strength of the Ghanaian cedi.
“When the cedi wobbles, even a tsunami can be less destructive,” Otumfuo stated, underscoring how fluctuations in the local currency could severely impact businesses, livelihoods, and national development.
He urged the leadership of the Bank of Ghana to remain vigilant, independent, and committed to its mandate in safeguarding the economy, adding that monetary stability is key to national peace and progress.
Otumfuo’s remarks come amid ongoing public concern over inflation, rising cost of living, and depreciation of the cedi against major international currencies.
His comments highlight the broader implications of currency volatility, not only on economic indicators but on social welfare and national confidence.
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The visit forms part of Otumfuo’s broader engagements with state institutions aimed at promoting collaboration, accountability, and responsible governance.