Prof. Bokpin explains why NPP deserves some credit for cedi gains, cites Gold for Oil policy

Economist, Prof. Godfred Bokpin

Economist, Prof. Godfred Bokpin says the current stability of the Ghanaian cedi is the outcome of consistent policy decisions carried over from the previous NPP administration.

He noted that the New Patriotic Party (NPP) government played a meaningful role in setting the stage for this improvement.

In an interview on Eyewitness News on Citi FM on Wednesday, May 21, Prof. Bokpin clarified that the economic progress seen today is the result of multiple contributing factors, including efforts made by the past government following the 2024 elections.

He explained that the previous administration left behind some crucial economic buffers—most notably in terms of foreign reserves—which were partly accumulated through initiatives like the Gold-for-Reserves programme.

Prof. Bokpin added that the current government has continued to build on those reserves and maintain prudent fiscal management, which has helped stabilize the foreign exchange market.

“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.

He underlined that the continuity in economic management, particularly in handling foreign reserves, has played a significant part in the sustained strength of the cedi.