Dr. Amin Adam, the Minister for Finance and MP for Karaga, has made a strong prediction that the Ghana Cedi will soon bounce back against the US dollar. This comes after the local currency has lost value compared to other major currencies recently.
The minister made this announcement while talking about the government’s successful debt restructuring program with its official creditors. He said that they have restructured a debt of $5.1 billion with these creditors, and have also finished restructuring $13.1 billion with Eurobond holders. According to Dr. Adam, this puts Ghana in a good position to attract investors and boost the strength of the cedi.
“Watch the cedi to the dollar after tomorrow. Let’s see; confidence will come,” he said. “Investors will come back to Ghana, and our growth path will become even clearer to everyone,” the minister added.
Dr. Adam was speaking at a town hall meeting in the UK over the weekend. He expressed confidence that the current New Patriotic Party (NPP) government has managed the economy better than the opposition National Democratic Congress (NDC). He believes this will help the NPP win the 2024 general elections.
“Our record on the economy, the size of the economy, per capita income, job creation, and economic growth is better than theirs,” the minister said, comparing the NPP’s performance to the NDC’s.
