Derrick Nans Asare, a prominent member of the National Democratic Congress (NDC), has attributed the recent depreciation of the US dollar against the Ghanaian cedi to what he describes as “proper economic measures” implemented by the government.
Speaking at a public forum in Accra, Asare emphasized that the stabilization and gradual strengthening of the cedi are signs of the positive impact of fiscal discipline, prudent monetary policies, and strategic interventions by the Bank of Ghana. According to him, efforts to control inflation, reduce excessive demand for foreign currency, and rebuild investor confidence have all contributed to the current relative stability of the cedi.
He pointed to a tightened monetary policy aimed at containing inflation, improved foreign exchange reserves bolstered by higher export earnings and remittance inflows, and actions taken to curb speculative trading in the forex market as some of the steps that have helped reduce volatility in the currency’s performance.
“These are clear signs that when the right policies are in place, the economy responds positively,” Asare stated. “The depreciation of the dollar against the cedi is not accidental—it is the result of deliberate and well-structured economic strategies.”
Despite varying opinions on the matter, Asare reiterated the NDC’s confidence in the government’s economic direction. He urged Ghanaians to remain patient and committed to supporting policy continuity, noting that consistent application of sound economic principles would ensure sustained growth and long-term currency stability.
“The dollar’s depreciation is a step in the right direction, but we must remain vigilant,” he added. “Proper economic management must be sustained to ensure lasting benefits for all Ghanaians.”
