Kennedy Agyapong a former member of Parliament and flagbearer aspirant of the New Patriotic Party (NPP) has said the recent appreciation of the cedi against the US dollars is just temporal.
According to Kennedy Agyapong, the recent cedi appreciation is not due to any economic gurus in Ghana.
He asserted that the cedi is appreciating because the world market is not demanding the dollar as it used to.
Speaking at the Entrepreneurship and National Leadership event held at Central University on Thursday, May 15, 2025, Kennedy Agyapong stated, “It is temporal, it is not any economic gurus in this country that are causing the cedi to appreciate and the dollar to depreciate.
It is the world market that is not demanding the dollars as much as they used to that is why there is no competition and the supply of dollars is exceeding the demand as simple as that”.
He added, “These are basic economic principles, so we have to be careful of what they are saying about interest rates and all those things it is not magic, it is the world economy that is falling apart and the demand for the dollar has gone down”.
Meanwhile, 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 Ghana cedis continues to record marginal gains against major trading currencies, particularly the US dollar.
As of May 15, 2025, the cedi is trading at GH¢12.4 to the dollar.
Watch the video below:
“The cedi’s appreciation against the dollar is temporary, and it is not due to any economic gurus in Ghana. Rather, it is because the global market is not demanding the dollar as it used to. These are basic economic principles.”
— Hon. Kennedy Agyapong pic.twitter.com/HfdArYXaG5
— EDHUB🌍ℹ (@eddie_wrt) May 15, 2025
