Speaking on JoyNews’ PM Express on Wednesday, he said the era of reckless monetary management by the previous government was over, and Ghanaians were now seeing what leadership with discipline looks like under President John Mahama and Finance Minister Cassiel Ato Forson.

“What is happening now is an intentional policy implemen­tation. It is a complementary effort from the ministry of finance and the central bank. The central bank is doing its bit, and government, under the leadership of the finance minister, is also doing its bit, so the two of them are collaborating.”

Asked if the cedi had now been “arrested”, a reference to then opposition leader Dr Maha­mudu Bawumia’s 2014 claim, Mr Adongo said “No, we have not arrested the cedi. The man who arrested it is out there. What is happening to the cedi now is that we are gradually massaging it to find its true level.”

“We are trying to let them know—‘Hey, we are in Gha­na now. Akufo-Addo is gone. Bawumia is gone. It is now Ato Forson and John Mahama who are here. If you misbehave, we will deal with you.’ And they are beginning to say, ‘yes sir, yes sir.’ That’s what we are doing.”

Mr Adongo said the priority was not to chase unrealistic ex­change rate targets but to secure lasting macroeconomic balance.

“What we are looking for is stability, not a quantum jump of the cedi from ¢15 to ¢3. What we are doing now is to get the cedi to find the level that sup­ports the economy,” he said.

He explained that while the exchange rate calm was part of the immediate relief strategy, the broader plan was to tackle inflation at its roots.

“This is an initial remedy to give Ghanaians some relief. Whilst the fruit that we really want to bear is to tackle head-on food inflation,” he said.