Cedi Stability Owes to Govt Discipline, Not NPP’s Policies – Dr. Khalid

Dr. Sharif Khalid, Economic Advisor to the Office of the Vice President, has dismissed claims by former Vice President Dr. Mahamudu Bawumia that the recent stability of the Ghanaian cedi is a result of policies implemented by the erstwhile NPP administration.

Dr. Bawumia had asserted that the local currency’s appreciation is due to the gold reserves initiative introduced under the Akufo-Addo government, while criticizing the current administration for not implementing any measures to fix the economy.

“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,” Dr. Bawumia stated during an interaction with the Young Executive Forum (YEF) in London.

However, Dr. Sharif Khalid attributed the cedi’s stability to the current government’s fiscal discipline, expenditure cuts, and commitment to economic programs.

“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 in an interview on Eyewitness News.

In essence, Dr. Khalid emphasized that the government’s prudent economic management has yielded positive results, contrary to Dr. Bawumia’s assertions.