Mahama Ayariga the majority leader and leader of Government Business has boldly touted the achievements of the John Mahama-led NDC government.
The majority leader noted that the NDC has engineered one of the strongest currency rebounds in recent history.
According to him, the cedi’s strength is putting money back into people’s pockets through transport fare reduction and the reduction of prices for imported food products.
Speaking on the floor of parliament, Mahama Ayariga detailed, “Mr Speaker, this House must support our indefatigable Finance Minister… to continue along the lines of fiscal prudence and his dogged pursuit of appreciating the Ghana Cedi, reducing inflation and prices, reducing interest rates and revitalizing our private sector, renewing hope in the Ghanaian.
“We have engineered one of the strongest currency rebounds in recent financial history. The cedi’s strength is putting money back in people’s pockets through transport fare reductions, and reduced prices of imported food products,” he added.
He further stated, “Mr Speaker, there is also a 14.1per cent strengthening versus the Euro, a significant reduction in fuel prices: Super XP: GH₵15.85 to GH₵13.27 (16.28 per cent decrease),
Diesel XP: GH₵15.99 to GH₵13.87 (13.26 per cent decrease), Super XP 95: GH₵15.96 to GH₵15.27 (4.32 per cent decrease) and transport fare reductions across major routes,” the majority leader detailed.
Meanwhile, Dr Johnson Asiamah, the Governor of the Bank of Ghana has revealed that the Central Bank is not using international reserves to support the cedi.
According to Dr Johnson Asiamah, the Ghana cedis have appreciated by 24.1%.
The BoG boss has also brushed off claims that the Central Bank is deliberately manipulating the exchange rate to drive the recent appreciation of the Cedi.
He further revealed that the recent cedi appreciation is not backed by the Central Banks international reserves but through disciplined monetary policy, improved remittance flows, and enhanced market surveillance.
On Monday, May 26, 2025, speaking at the Ghana CEO Summit held in Accra Dr. Asiamah detailed, “Our Cedi has appreciated by 24.1% against the US dollar. Let me emphasise that the Central Bank is not using international reserves to support the Cedi, nor are we engineering an appreciation, of the Cedi that will not be sustainable,
It is all market-driven, and the strengthening of the currency reflects a blend of disciplined monetary policy tailored to forex auction reforms, enhanced remittance channels and stricter market surveilling.
These are not short-term interventions they are deliberate, structural changes aimed at ensuring long-term stability,” he added.
