Economist and Finance Professor at the University of Ghana, Professor Godfred Bokpin, has said the New Patriotic Party (NPP) deserves partial credit for the current stability of the Ghanaian cedi.
In an interview on Citi FM on Wednesday, May 21, Professor Bokpin highlighted improved macroeconomic indicators and policy continuity as key factors behind the cedi’s resilience.
He acknowledged that while multiple factors influence the cedi’s performance, the post-election economic management by the previous NPP government played a significant role.
“To some extent, the NPP should be given some credit. If you look at the data after December 2024, after the election under the IMF programme, we missed practically all the indicators, except for two,” he explained.
“One was GDP growth, which was higher than the programme’s target. We ended the year with 5.7%, and the other was our international reserves.”
Professor Bokpin noted that the former government’s Gold-for-Reserves programme helped bolster foreign reserves, creating a foundation on which the current administration has built.
He emphasised that this foundation has contributed to stabilising the foreign exchange market.
“The relative currency stability being experienced is not the result of a single government’s action but rather a continuation of prudent policies,” he said.
“Such policy continuity, especially in managing foreign reserves, has contributed to the relative stability observed in the foreign exchange market.”
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