Dr. Sharif Khalid, Economic Advisor at the Office of the Vice President, Prof. Jane Naana Opoku-Agyemang, has refuted claims by former Vice President Dr. Mahamudu Bawumia that the recent appreciation of the Cedi is due to policies implemented by the erstwhile NPP administration.
This follows Dr. Bawumia’s assertion that the local currency’s recent stability is the result of the gold reserves initiative introduced under the Akufo-Addo government. He insisted that the current administration has not implemented any measures to fix the economy.
Speaking during an interaction with the Young Executive Forum (YEF) in London, as part of his Thank You Tour of the UK, Dr Bawumia, who once served as a Deputy Governor of the Bank of Ghana challenged the basis of the government’s claims.
“If you ask the NDC to point out exactly what policy they have implemented that has resulted in the appreciation of the Cedi, they cannot tell you one that has been implemented—not merely talked about but implemented. “They cannot tell you one such policy,” Bawumia stated.
However, speaking on Eyewitness News on Tuesday, May 21, 2025, Dr. Sharif Khalid maintained that fiscal discipline, cuts in expenditure, and the government’s commitment to economic programmes are responsible for the gains currently being witnessed.
“You would see that even in the wake of the gold-for-oil programme, the Cedi was not performing as it should, and inflation was still rising. So, where is this claim coming from?” he questioned.
Bawumia’s apology is a hallmark of great leadership – Effia MP