Former Member of Parliament for Tamale Central, Inusah Fuseini, has attributed the recent strength of the Ghanaian cedi to the effective coordination of fiscal and monetary policies under the Mahama-led administration.
Speaking in an interview on Channel One TV‘s The Big Issue on Saturday, May 17, Fuseini emphasised that the notable improvement in the cedi’s performance is not merely the result of external economic conditions but rather the outcome of deliberate policy alignment by the current government.
“I think that it’s the congruence of the monetary and fiscal policy of the government that is driving the change in value of the cedi, the strength of the cedi,” he stated.
According to Fuseini, while external factors such as global market dynamics affect the entire West African subregion, other currencies in the region — including the CFA franc and the Nigerian naira — are not performing as strongly as the cedi.
“When you look at the West African subregion, the exogenous factors affect all of us, but the CFA is not performing that well, neither is the Nigerian naira,” he pointed out. “So largely, I try to discount what the external factors are.”
His comments support growing sentiment that the cedi’s recent appreciation is being driven by domestic policy decisions rather than international market forces alone.
Economic observers have noted improved market confidence, increased investor interest, and disciplined fiscal management as contributing factors to the cedi’s performance.
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