Financial analyst and economist Scott Bolshevik has quizzed the former government economic management team led by former vice president Dr Mahamudu Bawumia if they could stabilise the cedi as it is being done today by the NDC-led government.
Scott Bolshevik, known for his constant analysis of issues relating to Ghana on social media platform X, particularly on the Ghanaian economy, on his X page simply quizzed, Can the solid economic team do this?”.
His question came at the back of the Akufo-Addo-led touting their economic management team to Ghanaians as a solid one made up, of Dr Bawumia, Ken Ofori-Atta, Osafo Marfo, Alan Kyeremanten, and others.
Bloomberg reports the Ghana cedi has appreciated since the beginning of April, appreciating by a remarkable 16%.
As of May 14, 2025, the cedi is trading at GH¢12.59 to the dollar.
Dr Cassiel Ato Forson, the Minister for Finance has stated the recent cedi appreciation is not a nine-day wonder.
According to the Finance minister, the cedi appreciation will be sustained.
Ato Forson is quoted by JOY NEWS to have said, “Cedi’s appreciation not a ‘nine-day wonder’; it will be sustained”.
The finance minister also called on businesses to reflect their pricing as the cedi improves for Ghanaians to truly feel the recovery.
He stated, “ We are seeing improvements in the cedi. It’s time for businesses to reflect this in their pricing. GUTA should support this effort so Ghanaians can truly feel the recovery”.
Meanwhile, Elizabeth Ofosu-Adjare, the minister of Trade, Industry, and Agribusiness has revealed direct importers have agreed to reduce their prices.
The Trade minister noted that the government cannot compel traders to reduce prices despite the appreciation of the cedi.
According to her, the government does not have the power to control prices, but it has the power to negotiate with our stakeholders.
She revealed that direct importers have agreed to reduce their prices, and some have already started reducing prices.
See the post below:
Can the solid economic team do this? pic.twitter.com/hWrLVBS2dc
— Scott (@scottbolshevik) May 14, 2025
