Vice President Dr. Mahamudu Bawumia has dismissed claims that the recent appreciation of the Ghanaian cedi is due to any economic policy introduced by the opposition National Democratic Congress (NDC), asserting that the currency’s stability reflects the current administration’s sound economic management.
Speaking during a regional campaign tour in the Ashanti Region, Dr. Bawumia addressed questions about the strengthening cedi, which has seen a notable recovery against major foreign currencies in recent weeks.
“The facts are clear,” he said. “The appreciation of the cedi is not the result of any NDC policy. It is the outcome of disciplined fiscal measures, improved foreign exchange reserves, and confidence in the government’s economic strategy.”
His comments come amid political debate over who should take credit for the cedi’s recent performance. Some members of the opposition NDC have suggested that the groundwork laid during their previous tenure contributed to the recovery.
Dr. Bawumia rejected those assertions, highlighting recent policy interventions by the New Patriotic Party (NPP) government, including tighter expenditure controls, targeted investments in key export sectors, and support from international financial institutions.
He further noted that the appreciation was bolstered by increased export earnings and a stable macroeconomic environment, factors he said were the result of deliberate planning under the NPP-led administration.
Economists have acknowledged the cedi’s improved performance but caution that sustained stability will depend on structural reforms and long-term fiscal discipline.
Political analysts view Bawumia’s remarks as part of an intensifying campaign narrative ahead of the 2025 general elections, with both major parties seeking to claim credit for economic gains.
As the exchange rate stabilizes, many Ghanaians remain focused on the broader impact of the economy—particularly inflation and cost of living—issues expected to weigh heavily on voters’ minds in the months ahead.
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