The Minority in Parliament has dismissed the Finance Minister’s claims of currency stability and improved foreign reserves, describing them as misleading and incomplete.
In a press statement, the caucus accused the government of taking undue credit for gains that they insist were largely inherited from the previous administration.
“The Minister’s attempt to disassociate today’s gains from yesterday’s effort is both analytically flawed and institutionally damaging,” the statement said.
According to the Minority, the reported US$11.12 billion in international reserves includes US$8.9 billion left behind by the NPP government in 2024. They also raised concerns about inconsistencies between figures provided by the Finance Minister and President Mahama on gold exports and related revenues, calling for deeper scrutiny of the Ghana Goldbod’s operations.
“This apparent contradiction calls for proper scrutiny of the work of the Goldbod,” they argued.
On the performance of the cedi, the Minority mocked the Finance Minister’s assertion that “cedi no apicki,” suggesting that persistent dollar shortages and heavy Bank of Ghana interventions paint a different picture.
“Perhaps the Minister should know that ‘Cedi no apicki, but Abochi get the Dollar,’ as Mr Adongo once said,” the statement added.
Citing an IMF warning, the Minority demanded a clear, rule-based framework for foreign exchange interventions and reiterated their call for long-term measures, including boosting domestic production and curbing black-market pressures.
Source: TheDotNews