Dr. Tiah Abdul-Kabiru Mahama, Member of Parliament for Walewale and former Economic Advisor to ex-Vice President Dr. Mahamudu Bawumia, has refuted claims that the outgoing New Patriotic Party (NPP) government left behind a collapsing currency.
Speaking during an interview on The Point of View on Channel One TV, Dr. Abdul-Kabiru insisted that the Ghana cedi was on a path to recovery before the transition of power and should not be described as being in crisis.
“It is not the case that the NPP handed over a currency that was not stable,” he stressed. “The cedi was on a downward and stable trend.”
He acknowledged that while the cedi had weakened to GHS16 per dollar in November 2024, it had begun appreciating ahead of the government transition. According to him, data from May 1 to May 20, 2025, showed a positive shift in the exchange rate, crediting the efforts of the previous administration.
Dr. Abdul-Kabiru attributed fluctuations in the cedi’s performance to broader economic variables such as foreign reserves and external sector strength, adding that these differ from one administration to another.
“The level of appreciation may differ based on how much reserves you have accumulated, how your external sector is performing,” he explained.
His comments come amid growing debate over the state of the economy left behind by the NPP, particularly the health of the local currency.
While some critics have blamed the previous government for mismanaging the cedi, Dr. Abdul-Kabiru maintains that macroeconomic stability was being restored, and the new administration inherited a strengthening currency, not one in turmoil.
He urged a more nuanced understanding of economic transitions and called for a non-partisan approach in assessing the performance of successive governments.
