Cedi’s Gains Largely Artificial, Impact Barely Felt — Osei Kyei Mensah Bonsu

Former Suame Member of Parliament, Osei Kyei-Mensah-Bonsu, has questioned the recent appreciation of the Ghana cedi against the United States dollar, describing the gains as largely artificial and lacking real economic impact.

Speaking on Kessben FM during an interview with host Wofa Kofi Appiah, he said the strengthening of the cedi appears positive on paper but has not translated into meaningful relief for businesses or ordinary citizens.

He explained that a genuinely stronger currency should lead to noticeable reductions in the prices of goods and services, particularly imported products. However, he noted that traders and consumers have yet to experience significant price declines, raising questions about the sustainability of the currency’s recent performance.

Mr. Mensah Bonsu suggested that structural economic challenges and market interventions may be influencing the cedi’s movement rather than strong economic fundamentals.

He therefore called for prudent economic management and long-term strategies aimed at ensuring stable and organic currency growth instead of short-term measures that deliver limited benefits to the public.