Former Tamale Central MP, Inusah Fuseini, has urged the government to maintain its current fiscal and monetary policy direction, which he says is responsible for the recent appreciation of the Ghanaian cedi.
According to Fuseini, the coordinated approach between the Bank of Ghana and the Finance Ministry is proving effective in stabilising the currency, and any deviation from this path could reverse the progress made so far. "The combination of the fiscal policies and the monetary policies is working to driving the cedi and I think that it should continue that way," he stated in an interview on Channel One TV's The Big Issue on Saturday May 17.
Fuseini further commended the government's current spending discipline, particularly its decision to avoid allocating resources to unproductive areas.
He argued that excessive government expenditure could lead to liquidity surpluses, which would threaten the cedi's stability. "The government is not spending that much now and government will not spend that much in areas that are not productive because the greatest threat to the stability of the cedi is the excess liquidity in the system," he explained.
