Cedi strength not an NDC miracle – Afenyo-Markin

Minority Leader Alexander Afenyo-Markin has commented on the Ghanaian Cedi's recent appreciation. He believes its strength is not due to any special economic policy by the National Democratic Congress (NDC) government.

During a press conference on May 8, 2025, he responded to President John Dramani Mahama's 120-Day Social Contract. Afenyo-Markin argued that the Cedi’s performance is being misinterpreted as a local success.

He stated, “The dollar is weakening, not because the Cedi is strong.” He noted that investors are losing faith in the US economy. This observation was based on the ICE US Dollar Index, which fell below 100.

Afenyo-Markin explained that the Cedi improved from over GH¢17 in 2023 to around GH¢14 now. He emphasized this change reflects global financial trends rather than effective local policies.

“This is not an NDC miracle; it is global monetary turbulence,” he said. He described it as currency recalibration on a planetary scale.

He urged the government to focus on urgent domestic issues. “I am telling the finance minister to pay suppliers and contractors,” he said. He stressed that contractors need to resume work and government projects should continue without delay.