Alexander Afenyo Markin the Minority Leader in Parliament has stated the Ghanaian cedi is stable because the Mahama government since assuming office have not been spending.
According to Afenyo Markin, the cedi is stable not because the finance minister Dr Cassiel Ato Forson is doing anything special.
He asserted that contractors are not being paid, it is because there is no liquid circulating in the economy.
Speaking on Adom TV, Alexander Afenyo Markin detailed, “Do you know why the cedi is stable, the cedi is stable not because Dr Forson at the Finance Ministry is doing anything special, it is because the government is not spending.
It is because contractors are not being paid, it is because there is no liquid circulating in the economy, I am not an economist but this is basic economics. I have been talking to businessmen a lot of certificates have not been paid since the government came into office. Not one mainstream finance ministry has not paid a single soul”.
He added, “What they have been paying is releasing money for Jubilee House, fuel for the president’s car, the Chief of Staff’s car and some monies for protocol releases and then maybe other ministries expenses.
But monies the government has to release to pay the private sector entity who have worked for the government, the government have not paid”.
Meanwhile, Dr Cassiel Ato Forson boldly declared he believes that the Ghanaian Cedi will do well.
According to Ato Forson, he has faith in the Cedi, based on the fundamentals and the work that they have done so far.
He asserted that the Mahama government is committed to maintaining a strong currency through sound economic policies and fiscal discipline.
Speaking in an interview with Channel One TV on Wednesday, 12 March, Ato Forson stated, “I have faith in the Cedi. I believe that the Cedi will do well based on the fundamentals and the work that we have done so far. I believe that the Cedi will perform well”.
The Ghana cedis continues to record marginal gains against major trading currencies, particularly the US dollar.
The Central Bank noted that the cedi is trading at a buying price of GH¢13.89 and a selling price of GH¢13.90 to a dollar.
The British pound is being bought at GH¢18.45 and sold at GH¢18.47, with the euro trading at a buying price of GH¢15.73 and a selling price of GH¢15.75.
Watch the video below:
The cedi is stable for now because the government is not spending – Afenyo Markin, Minority Leader in Parliament#Mpensenpensenmu pic.twitter.com/AALMnWktxQ
— Adom TV (@adom_tv) May 6, 2025
