The Member of Parliament for Effutu and Minority Leader, Honourable Alexander Afenyo-Markin, has dismissed suggestions that the recent strengthening of the Ghanaian cedi against the US dollar is a result of effective government economic policies.
In an interview on Adom TV’s Badwam, Afenyo-Markin argued that the cedi’s appreciation stems not from sound fiscal management but from reduced government spending. He claimed that the current stability of the currency is due to a contraction in liquidity, rather than deliberate policy success.
“The cedi is stable not because of any remarkable policy from Dr. Forson at the Ministry of Finance, but because the government is not spending,” he said. “Contractors are not being paid, and there is no cash circulating in the system.”
He further criticized the government for prioritizing expenditures such as fueling vehicles for appointees and party officials while failing to settle debts owed to private sector contractors involved in state projects.
Afenyo-Markin’s comments come amid a notable improvement in the cedi’s value—from GHS 17 per dollar in December 2024 to approximately GHS 13.65—prompting national debate over the cause of the currency’s recovery amid broader fiscal challenges.
His remarks have sparked mixed reactions on social media, with some accusing him of spreading misinformation. Afenyo-Markin, who lost his position as Majority Leader following the NPP’s defeat in the 2024 general elections, has remained a vocal figure in the political landscape.
Most recently, he led the “Save the Judiciary” protest in response to the suspension of Chief Justice Gertrude Torkornoo. The demonstration drew widespread attention after a video surfaced showing a confrontation between Afenyo-Markin and a police officer, with allegations that the MP assaulted the officer. The Ghana Police Service has since sought permission from the Speaker of Parliament to question him. Afenyo-Markin, however, has denied any wrongdoing and accused the police of assault, calling for a full investigation.
As Ghana navigates a turbulent economic and political period, Afenyo-Markin’s critiques and public actions continue to influence national discourse.
Source: Adomonline