Former Member of Parliament for Tamale Central, Inusah Fuseini, has credited the recent stability of the Ghanaian cedi to the effective coordination of fiscal and monetary policies initiated under the Mahama-led administration.
Speaking on Channel One TV, Mr. Fuseini argued that the cedi’s improvement is not merely due to global economic trends but rather the result of deliberate domestic policy alignment.
“I think it’s the congruence of the monetary and fiscal policy of the government that is driving the change in the value of the cedi — the strength of the cedi,” he stated.
Fuseini acknowledged that external market conditions impact the broader West African subregion but pointed out that other regional currencies have not shown similar resilience.
“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 noted. “So largely, I try to discount what the external factors are.”
His remarks echo the views of some economic analysts who believe the cedi’s recent gains are largely attributable to improved domestic economic management.
Observers have cited increased investor confidence, disciplined fiscal practices, and stronger market fundamentals as contributing factors to the currency’s performance.