We’re focused on results, not slogans – Deputy Finance Minister fires back at Bawumia’s Cedi comments

Deputy Minister of Finance, Thomas Nyarko Ampem, has responded to Dr. Mahamudu Bawumia's criticisms. Bawumia, a former Vice President, questioned the recent appreciation of the Ghanaian cedi. He spoke during his UK “Thank You Tour” at the Young Executive Forum in London.

Bawumia suggested that the cedi's gains lack a solid economic strategy. In response, Nyarko Ampem appeared on Joy FM’s Midday News on May 20. He accused Bawumia of using empty slogans without delivering results.

“I’m not surprised by his statement,” said Nyarko Ampem. “He is known for sloganeering during his time in office.” He emphasized that while they used slogans, his administration is focused on delivering results.

Nyarko Ampem highlighted that the current government prioritizes measurable outcomes over political rhetoric. “We will not be shouting about slogans and policies,” he stated. “We will deliver, and the end will justify the means.”

He pointed to specific initiatives supporting the cedi’s stability. One key initiative is the establishment of the Gold Board. “From January to April 2024, gold exports were around $860 million,” he explained.

“Thanks to our structured approach with the Gold Board, we’ve exported over $2.7 billion worth of gold.” He stressed that these figures represent real achievements, not just talk.

The Deputy Minister also mentioned an improved IMF program boosting investor confidence and macroeconomic stability. “Since we took over, borrowing has reduced,” he noted. Treasury bill rates have consistently dropped since February.

“These are tangible results driving confidence in our economy,” he added. In closing, Nyarko Ampem urged Bawumia to reflect on past economic difficulties under his leadership.

“The difference is clear,” he concluded. “Lives are becoming bearable again, and that’s what matters most.”