Cedi stability partly due to NPP policies – Prof. Bokpin

Professor Godfred Bokpin, an economist at the University of Ghana, spoke about the cedi's stability. He believes the New Patriotic Party (NPP) deserves some credit for this.

He mentioned improved macroeconomic indicators and ongoing policies as key factors. In an interview on Citi FM, he discussed the NPP's impact on the cedi's performance.

Bokpin said that multiple elements affect the cedi’s value. However, he highlighted the previous NPP government's economic management after elections as significant.

He stated, “To some extent, the NPP should be given some credit.” He noted that after December 2024, under the IMF programme, many indicators were missed except two.

One indicator was GDP growth, which exceeded targets at 5.7%. The other was international reserves.

Bokpin pointed out that efforts like the Gold-for-Reserves programme helped boost foreign reserves. This created a foundation for the current government to build upon.

He stressed that this foundation has aided in stabilising the foreign exchange market.

In conclusion, Bokpin stated that currency stability is not due to one government alone. It results from continued prudent policies over time.

“Such policy continuity has contributed to relative stability in the foreign exchange market,” he added.