There’s too much artificiality in the cedi’s appreciation over the dollar, that’s why there’s little impact – Former Suame MP, Osei Kyei Mensah Bonsu
Former Suame Member of Parliament, Osei Kyei Mensah Bonsu, has described the recent appreciation of the Ghana cedi against the US dollar as largely artificial, arguing that it has had little real impact on the economy.
Speaking on Kessben FM with host Wofa Kofi Appiah, Mr. Mensah Bonsu said although the cedi appears to be gaining strength on paper, the effects are not being felt meaningfully by businesses and ordinary Ghanaians.
According to him, genuine currency appreciation should reflect in reduced prices of goods and services, particularly imported items. However, he noted that many traders and consumers have yet to experience significant relief, raising concerns about the sustainability and authenticity of the gains.
He suggested that structural economic factors and market interventions may be influencing the currency’s performance, rather than strong underlying fundamentals.
He called for prudent economic management and long-term strategies that would ensure stable and organic growth of the cedi, rather than short-term measures that offer limited benefits to citizens.
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