Dennis Miracles Aboagye a member of the New Patriotic Party’s (NPP) communications team has admitted that the government of the day is responsible for the performance of the cedi.
According to Miracles Aboagye, the Mahama-led administration must be acknowledged for their role in the recent appreciation of the Ghana cedi against the US dollar.
In a post on Social media X, Dennis Miracles Aboagye wrote, “ The one thing I agree with @SammyGyamfi_and @AnnanPerry is their push to give credit to the NDC government for the recent appreciation of the Cedi. I hold the firm belief, the Gov’t of the day is responsible for the performance of the Cedi”.
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 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”.
The Ghana Union of Traders’ Associations (GUTA) has praised the Bank of Ghana for restoring confidence in the Ghanaian cedi.
In a statement signed by GUTA President Dr Joseph Obeng and Head of its Business and Economic Bureau, Charles Kusi Appiah Kubi, the Association stated, “This has brought hope to the business community in recouping some of the lost capital during the last couple of years,”
“Importantly, it has also brought a positive speculation and predictability around the foreign exchange space, thereby eroding the notion that the foreign currency is a store of value in the Ghanaian community.”
GUTA further urged the authorities to “sustain these prudent measures”.
The added cedi gain if maintained, could help the country “achieve full economic recovery, make businesses competitive, increase productivity, and alleviate the high cost of living.”
The Ghana cedis continues to record marginal gains against major trading currencies, particularly the US dollar.
As of May 8, 2025, the cedi is trading at GH¢13.4 to the dollar.
See the post below:
The one thing I agree with @SammyGyamfi_ and @AnnanPerry is their push to give credit to the NDC government for the recent appreciation of the Cedi. I hold the firm belief, the Gov’t of the day is responsible for the performance of the Cedi. 📌📌🧷
— Dennis Edward Aboagye (@DennisMiracles) May 9, 2025
