Former Minister of Trade and Industry, KT Hammond, has stated that the recent signs of economic improvement are the result of policies initiated by the opposition New Patriotic Party (NPP) under the leadership of former Vice President Dr Mahamudu Bawumia and not the work of the ruling Democratic Congress (NDC).
Speaking in an interview on Oyerepa TV on October 27, 2025, the former Adansi-Asokwa Member of Parliament dismissed claims by NDC communicators that their economic ideas were responsible for the current gains of the Ghanaian cedi against major foreign currencies.
According to him, the foundations for the present economic stability were laid by the NPP administration long before the 2024 elections.
“Do you know how the cedi started gaining weight against the dollar? The gold issue that Sammy Gyamfi is taking credit for, do you know how it came about? I was there when we discussed how to revive the economy. It was agreed that we needed to find a way to curb gold smuggling and establish an institution to manage our own gold so we could build more reserves,” he explained.
KT Hammond said the Ghana Gold Board (GoldBod)initiative, which aimed to strengthen Ghana’s foreign reserves and stabilize the cedi, was conceived and implemented by the NPP government.
“Our gold reserves are even in England, so if our initiatives have borne fruit, why should others take credit? You can’t win an election in January or February and start reviving the economy immediately. Are you a magician?” he quizzed.
NDC has done nothing to deserve the goodwill it is enjoying from Ghanaians – Walewale MP
He maintained that the current positive trends in the economy including the relative stability of the local currency are clear evidence of the NPP’s sound economic management under Dr Bawumia’s guidance.
“Nobody is taking credit from anyone. What the NPP planted is what we are seeing now,” KT Hammond emphasised.
AM
Dr Zanetor departs Jubilee House after notifying government of mother’s passing
Scenes from Accra Ridge Hospital after news of Nana Konadu Agyeman-Rawlings’ death
The wait is over! The GhanaWeb Excellence Awards 2025 is officially launched. Let’s Celebrate impact, innovation and excellence across Ghana.
Who deserves to be honoured this year?
Nominate now 👉 https://ghanaweb.com/ghanaexcellenceawards/nominate