Dr. Sharif Khalid, Economic Advisor at the Office of the Vice President, Prof. Jane Naana Opoku-Agyemang, has refuted claims made by former Vice President Dr. Mahamudu Bawumia that the recent appreciation of the Cedi is attributable to policies implemented by the previous NPP administration.
This response comes after Dr. Bawumia’s assertion that the local currency’s recent stability is a result of the gold reserves initiative introduced under the Akufo-Addo government. He emphasized that the current administration has not enacted any measures to address the economy.
During an interaction with the Young Executive Forum (YEF) in London, as part of his Thank You Tour of the UK, Dr. Bawumia, who previously served as Deputy Governor of the Bank of Ghana, challenged the government’s claims. “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,” Bawumia stated.
In response, Dr. Sharif Khalid spoke on Eyewitness News on Tuesday, May 20, 2025, asserting that fiscal discipline, cuts in expenditure, and the government’s commitment to economic programs are responsible for the gains currently being observed.
“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.
About The Author
