Cedi appreciation is not due to any economic gurus in Ghana – Kennedy Agyapong

Kennedy Agyapong, a former MP and NPP flagbearer aspirant, has made bold claims. He stated that the recent appreciation of the cedi against the US dollar is not due to Ghanaian economic experts.

Agyapong believes this cedi appreciation is temporary. He explained that it results from lower global demand for the dollar. The supply of dollars now exceeds its demand.

He spoke at an Entrepreneurship and National Leadership event on May 15, 2025. Agyapong said, “It is not any economic gurus causing the cedi to appreciate.” He emphasized that basic economic principles are at play.

Meanwhile, Isaac Adongo, a Board Member of the Bank of Ghana, shared his views. He claimed that both the Bank of Ghana and Ministry of Finance are adjusting the cedi's value.

Adongo stated that they are working together to find its true level. He mentioned this during an interview on JOYNEWS.

He added, “This is an initial remedy to give Ghanaians some relief.” Adongo also noted they have not arrested the cedi’s value.

He explained their goal is stability rather than drastic changes in value. They aim to find a level that supports Ghana's economy effectively.

In summary, both Agyapong and Adongo provided insights into the current situation with the cedi and its relationship with global markets.