Former Deputy Minister for Works and Housing and former Member of Parliament for Subin, Eugene Boakye Antwi, has cautioned against the politicization of the cedi’s recent gains, arguing that fuel and forex markets are beyond political control.
Speaking on Happy FM’s EPA Hoa Daben with Bismark Brown, Boakye pointed out that global trade policies, particularly those introduced recently by US President Donald Trump, have contributed to the dollar’s struggles.
He noted that the dollar’s dominance is shifting as other currencies, such as the Euro, gain prominence.
“Things are changing. The dollar now isn’t like it used to be previously. There are other emerging currencies like the Euro”.
Boakye criticized the National Democratic Congress (NDC) for using the cedi’s appreciation as a campaign tool, arguing that such economic shifts should not be politicized.
He urged the NDC to study Ghana’s economic history before making claims about currency performance.
“NDC should learn from NPP with the dollar rise. We are all praying the dollar continues to depreciate because it helps business owners and all others who trade in dollars”.
He further challenged the Bank of Ghana’s role in stabilizing the currency, questioning whether any policy reforms had been introduced to influence the dollar’s depreciation.
“It’s too early, we haven’t entered into June, yet you are touting this as a credential while you haven’t introduced a single policy. Which Bank of Ghana reforms did you introduce to arrest the dollar? This is political talk”.
