Govt pumped $8 billion to shore up Ghanaian cedi — Kojo Oppong Nkrumah alleges 

Mr Kojo Oppong Nkrumah, New Patriotic Party (NPP) Member of Parliament for Ofoase Ayirebi, has alleged that government, through the Bank of Ghana, has injected US$8 billion into the economy this year in a bid to stabilise the Cedi against foreign exchange pressures.

Speaking on the floor of Parliament, during the debate on the 2026 Budget, Mr Oppong Nkrumah cautioned that the intervention was only a temporary measure.

He warned that any external shock could erode the gains made, leaving the currency vulnerable once again.

The legislator disclosed that government had cut GH¢28 billion in expenditure after failing to meet its revenue targets.

As a result, he said, the administration could not allocate US$5 billion to the Feed Ghana programme, which was intended to boost agricultural productivity.

Mr Oppong Nkrumah also criticised government for failing to provide GH¢51 million seed capital to the Women's Development Bank, describing the move as a setback for women's empowerment initiatives.

The lawmaker questioned the fiscal priorities of the administration, citing the announcement to purchase two executive jets as misplaced at a time when resources were scarce.

He urged the government to review its fiscal strategy and channel investments into real sectors of the economy to spur growth and create sustainable jobs.

In response, Mr Cletus Seidu Dapilah, National Democratic Congress (NDC) MP for Jirapa, expressed optimism about the 2026 Budget, insisting that it offered hope for employment opportunities for the youth.

GNA