NPP laid strong foundation for current cedi gains — Effia MP

Isaac Boamah-Nyarko is the Member of Parliament for Effia. He has downplayed claims that the current administration is solely responsible for Ghana’s economic turnaround. He argues that the previous government laid the groundwork for this rebound.

Boamah-Nyarko believes the recent appreciation of the Ghanaian Cedi results from efforts by the former administration. He calls for a more honest narrative about Ghana’s economic progress. His comments come after the Cedi strengthened against major foreign currencies.

This development has sparked debate among economists and politicians. Some experts attribute these gains to strong gold reserves and a weakening US dollar. They also mention tariff policies under President Donald Trump as a factor.

On May 13, 2025, Boamah-Nyarko spoke on Breakfast Daily on Channel One TV. He emphasized the need to give credit where it is due. “The [NPP] government provided a playing field for any continuing government,” he stated.

He added, “We need to give credit where credit is due.” He argued that without proper fundamentals, no magic could happen in just a few months.

To support his claim, he cited data from the Precious Minerals Marketing Company (PMMC). According to him, most gains in gold reserves occurred before the current administration took office.

“The PMMC had built up a gold reserve of 30.2 tonnes by December 31,” he explained. “Since then, only an additional 1 million tonnes have been added.”

Boamah-Nyarko's remarks highlight ongoing political debates over which administration deserves credit for Ghana’s economic strides.