Oppong-Nkrumah pleads for positive cedi speculation after IMF exit

The Information Minister Kojo Oppong-Nkrumah has called for positive speculation around the cedi as it appreciates against the dollar after months of free fall.

In a plea on the floor of Parliament, the minister urged more focus on the positives of the economy “so that our currency will continue to enjoy the resilience that it is beginning to experience today.”

The minister has in the past accused the Minority in Parliament of speculating negatively about the cedi to spark panic.

Mr. Oppong-Nkrumah also espoused confidence in the Akufo-Addo administration to be fiscally disciplined as it exits the International Monetary Fund (IMF) programme on April 2.

The Executive Board of the IMF just approved the final disbursement of about US$185.2 million to Ghana.

The minority, however, continued its skepticism of the Cedi’s recent rebound.

The Ketu MP, Fifi Kwetey said “this temporary injection that has taken place is basically going to have the same effect [as last year].

They did that, thinking that somehow that is going to lure the people into a certain sense of security but that security will be short-lived.”


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