In a recent interview aired on Oyerepa TV’s Fast Time, Dr. Prince Obiri Yeboah, a renowned chartered economist and banker, disclosed that the recent appreciation of the Ghanaian cedi is partly due to the release of hoarded U.S. dollars into the local market.
According to Dr. Yeboah, the foreign currency had been stockpiled by former appointees of the New Patriotic Party (NPP). “The dollars hoarded by the former NPP appointees have now been released into the market,” he stated, noting that this action has had a significant positive impact on the strength of the cedi.
Dr. Yeboah explained that the sudden increase in the availability of dollars has helped stabilize the exchange rate, easing pressure on the cedi, which has seen periods of volatility in recent years.
The economist’s remarks come at a time when the Ghanaian economy has been showing signs of gradual recovery, with the cedi appreciating steadily against major international currencies.
Observers believe that the move could signal a broader shift in market dynamics and political influence in the country, especially as Ghana prepares for upcoming economic reforms and fiscal reviews.
Oyerepa Live shared the economist’s insights on its official social media platforms, where the statement has sparked a mix of reactions from the public, with some praising the transparency and others questioning the timing and motives behind the release.
The development is expected to be a key talking point among policymakers and financial analysts in the coming weeks as the nation continues its efforts to stabilize the economy.
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