Prof. Godfred Bokpin is an Economist
An economist, Professor Godfred Bokpin, has noted that the previous NPP government deserves some credit for the current performance of the local currency.
According to him, the gains being witnessed today are partly due to policies implemented during the NPP’s tenure.
He added that the current government’s continuation of these policies has contributed to the resilience of the cedi observed in recent weeks.
Ghana’s local currency, the cedi, has appreciated significantly on the interbank foreign exchange market over the past few weeks against major foreign currencies.
The government has attributed the gains largely to its policies, including gold exports by the Ghana Gold Board and fiscal discipline.
However, Bokpin stated, “To some extent, the NPP should be given some credit. If you look at the data after December 2024, after the election under the IMF programme, we missed practically all the indicators, except for two.
“One was GDP growth, which was higher than the programme’s target. We ended the year with 5.7%, and the other was our international reserves,” he was quoted as saying by myjoyonline.com.
The economist noted that the Gold-for-Reserves programme helped shore up foreign reserves — a move that created a foundation for the current administration to build upon.
“Such policy continuity, especially in the management of foreign reserves, has contributed to the relative stability observed in the foreign exchange market,” he added.
SSD/MA
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