It takes intelligence, capacity, experience to juggle economic activities - Spio-Garbrah tells NPP

Former Minister of Trade and Industry, Dr. Ekwow Spio-Garbrah, praised the recent stability of the Ghana cedi. He attributed this to effective economic governance. He criticized the previous New Patriotic Party (NPP) administration for not achieving similar results.

In an interview on JoyNews' Upfront, he explained that the cedi's appreciation is due to government efforts. He dismissed claims that these gains are artificial or unsustainable.

He questioned why such improvements did not happen under the NPP last year. “If it’s so artificial, any magician should just pull that ratio out of the hat,” he said. It requires intelligence and experience to manage economic activities effectively.

Dr. Spio-Garbrah noted that the cedi has shown significant recovery over the past 690 days. This improvement, along with lower inflation and prices, has boosted economic optimism among Ghanaians.

He expressed surprise at current market trends. “For the first time in a long time—at least in my generation—prices are coming down,” he stated. Fuel prices and spare parts costs are decreasing, leading traders to reduce their prices as well.

He mentioned viral videos of traders chanting “Reduce prices! Reduce prices!” This grassroots movement represents a call for economic relief. “Most people have not seen price reductions in a long time,” he said, calling it a great time for any economy.