The Minority in Parliament has emphasised that President John Mahama's recognition of Ghana's $10.6 billion gross international reserves as of April 2025 reinforces their long-standing assertion that the cedi's stability is primarily due to policies set in motion by the previous New Patriotic Party (NPP) administration.
According to the Minority in a statement signed and issued by the Ranking Member on the Finance Committee, Dr Mohammed Amin Adam, a significant portion of these reserves-$8.98 billion-was inherited from the NPP government, making it clear that the current National Democratic Congress (NDC) administration has not implemented any new or innovative measures to ensure the stability of the local currency.
They argue that the cedi's strength is largely a result of macroeconomic buffers established by the Akufo-Addo/Bawumia administration.
Further bolstering their case, the Minority pointed to Finance Minister, Dr Cassiel Ato Forson's remarks regarding the GoldBod programme, which facilitates the purchase and sale of gold for forex.
