Member of Parliament for Tano North and Aide to former Vice President Dr Mahamudu Bawumia, Dr Gideon Boako, has responded to claims by , CEO of Goldbod, that the recent appreciation of the cedi is solely due to policies implemented by the current Mahama-led administration.
In the same vein on Facebook, Dr Boako noted that President Mahama may be in power, but it is the economic foresight and policies of Dr Bawumia that have laid the foundation for the cedi to take its current stability.
Mr Gyamfi earlier made a claim explaining the 16.7% appreciation of the cedi since January 2025; in his view, it should be attributed to a combination of stringent monetary policy, fiscal consolidation, and increased forex inflows from gold exports and remittances.
He attributed it to the interest rate increase by the Bank of Ghana, raising it by 100 basis points, and strategic reserve buildup. "These policy interventions in a favourable global context… have significantly driven the strength of the Ghana cedi," he said.
