The University of Ghana’s Professor of Economics and Finance, Godfred Bokpin, has credited the previous New Patriotic Party (NPP) administration for the current stability of the Ghanaian cedi.
Speaking on Citi FM’s Eyewitness News, Prof. Bokpin attributed the cedi’s stability to the NPP’s economic policies, particularly after December 2024.
According to Prof. Bokpin, the NPP administration’s policies yielded notable economic gains, including a GDP growth rate of 5.7% and an increase in international reserves. The Gold-for-Reserves programme, initiated by the NPP, significantly contributed to the country’s foreign reserves, which have been effectively managed by the current administration.
Prof. Bokpin emphasized that policy continuity has played a crucial role in maintaining the stability of the cedi. He noted that the current administration’s prudent management of foreign reserves has built upon the foundations laid by the previous NPP government, resulting in the relative stability observed in the foreign exchange market.
As an economist, Prof. Bokpin’s assessment provides valuable insights into the factors contributing to the cedi’s stability. His comments highlight the importance of policy continuity and effective economic management in achieving stability in the foreign exchange market.