Professor Godfred Bokpin praised strong leadership for making Ghana's currency stronger against foreign money. The University of Ghana Business School expert spoke on TV3 about cooperation between finance officials and central bank leaders. Bokpin believes smart policy choices drove the cedi's recent gains against the American dollar. Opposition parties claim credit for currency improvements from their previous government programs. The economics professor argued that current leaders made difficult decisions that produced positive results.
Bokpin highlighted two main policy changes that helped the currency recover from weakness. Government officials cut wasteful spending that had pumped excess money into the economy for years. The professor said leaders finally acted on advice economists gave since the COVID pandemic started. Previous administrations ignored calls to reduce expensive programs that hurt economic stability. Bank of Ghana policies pushed over 800,000 people into poverty through inflation during 2022.
The new government corrected major budget problems that caused Ghana to miss the IMF program targets. Officials moved from a negative spending surplus above 3 percent to a positive primary balance near 1.5 percent. Bokpin praised the 2025 budget adjustments that restored macroeconomic stability across government departments. Leaders cut 10 billion cedis from total spending compared to last year's budget levels. The professor explained that cooling an overheated economy required painful trade-offs between growth and stability.
Bokpin highlighted two main policy changes that helped the currency recover from weakness. Government officials cut wasteful spending that had pumped excess money into the economy for years. The professor said leaders finally acted on advice economists gave since the COVID pandemic started. Previous administrations ignored calls to reduce expensive programs that hurt economic stability. Bank of Ghana policies pushed over 800,000 people into poverty through inflation during 2022.
The new government corrected major budget problems that caused Ghana to miss the IMF program targets. Officials moved from a negative spending surplus above 3 percent to a positive primary balance near 1.5 percent. Bokpin praised the 2025 budget adjustments that restored macroeconomic stability across government departments. Leaders cut 10 billion cedis from total spending compared to last year's budget levels. The professor explained that cooling an overheated economy required painful trade-offs between growth and stability.
