‎The Member of Parliament for Manso Nkwanta, Tweneboah Fokuo, says the recent rise in the value of the Ghana cedi is not due to strong economic foundations.
‎
‎Speaking on Citi FM’s The Big Issue on July 26, 2025, he argued that the current government should not take credit for any major increase in Ghana’s foreign exchange reserves.
‎
‎He explained that most of the gold reserves supporting the cedi were built by the previous NPP government, and the current administration has only added a little, about one metric tonne.
‎
‎“Yes, we talk about gold reserves, but if you check, most of it came from the previous government. This one has only added about one metric tonne, so they can't claim to have made any big structural change that led to the cedi’s appreciation," he said.
‎
‎He believes the cedi’s recent gains are mostly due to short-term factors like temporary support from the Bank of Ghana and the weakening of other global currencies, not long-term economic improvements.
‎
‎He stated that unless the government puts in place strong, lasting reforms, the cedi could easily lose its current value again.
‎
‎DR/MA

Watch the latest episode of BizTech below:



How Virtual Reality is enhancing business and customer experience