During a radio interview, Fokuo alleged the currency’s strengthening is politically engineered to project false economic progress despite persistent inflation and reduced purchasing power.

Fokuo specifically contested government claims of falling food prices, asserting: “Rice prices haven’t dropped producers reduced 5kg bags to 4kg while maintaining prices.” He cited personal import challenges as evidence the dollar’s market value remains high despite official exchange rates, contradicting Bank of Ghana reports of a $4.14 billion trade surplus.

The economist predicted the International Monetary Fund would ultimately assess whether the cedi’s gains reflect genuine economic improvement or superficial stabilization. His critique amplifies skepticism about the Mahama administration’s economic management amid opposition claims of “PR gimmicks.”