Economist and Finance Professor at the University of Ghana, Prof. Godfred Bokpin, has acknowledged that the New Patriotic Party (NPP) administration deserves some credit for the current stability of the Ghanaian cedi, citing improvements in key macroeconomic indicators and policy continuity.
In an interview on Eyewitness News on Citi FM on Wednesday, May 21, Prof. Bokpin stated that while the ongoing economic stability is the result of multiple factors, the performance of the economy under the previous NPP government, particularly after December 2024, played a significant role.
“To some extent, the NPP should be given some credit. If you look at the data after December 2024, after the election under the IMF program, we missed practically all the indicators, except for two.
“One was GDP growth, which was higher than the programme’s target. We ended the year with 5.7%, and the other was our international reserves,” he said.
Prof. Bokpin highlighted that the former administration left behind notable economic gains, particularly in foreign reserves, thanks in part to the Gold-for-Reserves programme.
He noted that these reserves have been effectively managed and expanded upon by the current administration.
He emphasised that such policy continuity, especially in the management of foreign reserves, has contributed to the relative stability observed in the foreign exchange market.
