Economist and University of Ghana Finance Professor, Godfred Bokpin, says the New Patriotic Party (NPP) deserves partial credit for the recent stability of the Ghanaian cedi.
According to Prof. Bokpin, while several factors have influenced the cedi’s resilience, the NPP’s post-election economic management under the IMF programme played a key role.
“To some extent, the NPP should be given some credit, after the December 2024 election, we missed nearly all IMF targets except two — GDP growth, which hit 5.7%, and international reserves, ” he said.
He highlighted the Gold-for-Reserves programme as a crucial NPP initiative that helped strengthen foreign reserves and laid the groundwork for the current government.
Professor Bokpin concluded that the relative currency stability being experienced is not the result of a single government’s action but rather a continuation of prudent policies.
“Continued prudent management of foreign reserves has been essential to the calm in the forex market,” he added.
