Economic analyst and political advisor, Kabiru Tia Mahama, has downplayed the role of the current Finance Minister, Dr. Cassiel Ato Forson, in the recent appreciation of the Ghanaian cedi.
Speaking in an interview on Citi TV on Saturday, 17th May 2025, Mr. Mahama said that what Dr. Ato Forson has done to strengthen the cedi is not extraordinary and could have been done by any finance minister.
“With the greatest of respect, any finance minister can do what Ato Forson has done,” he stated during the interview.
He explained that the Finance Minister’s key action has simply been a decision not to spend money, which may help the economy in the short term but could come at a political cost.
“He decided not to spend. That will come at a political cost, which goes into the commitment of government. But it is not any magic,” Mr. Mahama explained.
Kabiru Mahama also questioned the role of the Bank of Ghana, saying the central bank has not made any major contribution to the cedi’s strength apart from raising the monetary policy rate.
“Bank of Ghana has not done anything significant apart from raising the monetary policy,” he added.
His comments come at a time when many Ghanaians are praising the recent gains of the cedi, which has moved from over GH¢17 to about GH¢12 per US dollar. However, Mr. Mahama is warning that this may not last unless structural changes are made. His views add to growing debates on whether the cedi’s appreciation is due to strong economic policies or temporary measures that may not hold up in the long run.
Click here to watch the video.
