Dr Mohammed Amin Adam, is a former finance minister
The Minority Caucus has questioned the effectiveness of the government’s currency interventions, saying the cedi fell short of expectations despite heavy market support.
This follows the presentation of the 2026 Budget on Thursday, themed “Resetting for Growth, Jobs and Economic Transformation,” in which Finance Minister Dr Ato Forson outlined a “Big Push” to boost infrastructure, exports, and job creation.
Among the proposals, Dr Forson highlighted the abolition of the COVID-19 levy and projected a decline in inflation for 2026.
Speaking at a media briefing, former Finance Minister Dr Mohammed Amin Adam said the local currency had not performed as anticipated despite significant interventions by the Bank of Ghana.
“We expected the cedi to at least trade at GH¢8 per $1 given the heavy intervention from the BoG,” he said.
Dr Adam added that while the government points to macroeconomic stability, much of the cedi’s apparent strength has been artificially supported through billions of dollars in forex injections.
The Minority argued that this short-term stabilization obscures deeper structural weaknesses in productivity, exports, and foreign exchange supply, leaving the economy vulnerable despite headline gains.