You can’t say it’s all NPP’s doing – Prof. Bokpin on cedi’s appreciation

Renowned economist Professor Godfred Bokpin has challenged claims about the Ghanaian cedi's stability. He argues that it is not solely due to the previous New Patriotic Party (NPP) administration, led by former Vice President Dr. Mahamudu Bawumia.

During an interview on Morning Starr with Naa Dedei Tettey, Professor Bokpin shared his views. He stated that the current government's economic efforts should not be ignored.

“I do not subscribe to the proposition that this government has not done anything,” he said. He explained that there is a clear direction and focus in their approach.

His comments respond to Dr. Bawumia’s recent remarks. The former Vice President credited the cedi’s appreciation to strategies like the gold reserves program from the NPP era.

Dr. Bawumia spoke during his UK “Thank You” tour with the Young Executive Forum in London. He suggested that the current National Democratic Congress (NDC) government contributed little to improving Ghana’s currency performance.

However, Professor Bokpin believes it is too early to dismiss the current administration's impact. “We haven’t seen transformative interventions yet; it’s still early days,” he noted.

He added that real expenditure commitments from government policy announcements are pending. Thus, it's inaccurate to attribute all improvements solely to past administrations.

Professor Bokpin also highlighted better coordination between key financial institutions now. He mentioned collaboration between the Ministry of Finance and the Bank of Ghana as a positive change.

“There’s intentionality from both sides, supported by strong presidential backing,” he concluded. This contrasts with less coordination under previous administrations, according to him.