Private legal practitioner Austin Kwabena Brako-Powers has said that the appreciation of the Cedi against the dollar cannot be attributed to the work done by the present government alone.
He says it is also due to the foundation established by the previous administration.
“We are enjoying this not because of NDC alone but also because of the foundation by the previous government,” he said on the Key Points on TV3 Saturday, August 2.
For his part, a Political Science lecturer at the University of Ghana, Dr Joshua Jebuntie Zaato, said that the current Mahama administration can take credit for the appreciation of the Cedi because it is happening under their watch.
He says whether by lack or not, the present government can take credit for it.
“Whether it is a lack or not, the appreciation is happening under the NDC; they can take credit for that,” he said on the Key Points on TV3 Saturday, August 2.
CEO of Dalex Finance, Mr Joe Jackson, also said that the public debt has largely reduced due to the appreciation of the Cedi.
He makes the point that whoever takes credit for the appreciation of the Cedi should take credit for the reduction in the public debt.
Asked who takes the credit for the reduction in the debt stock, while speaking on the Key Points on TV3 Saturday, August 2, Mr Joe Jackson said, “Who takes credit for the appreciation of the Cedi? It has to be the current managers of the economy. There is definitely a role to discipline, the discipline that has been applied in the management of our finances and keeps the reserves at which they have been to support the cedi.
“Some external factors also favoured but whoever takes credit for the appreciation of the Cedi should also take credit for the reduction in debt levels,” he stressed.
His comments come at a time when the Minority in Parliament accused the current government of taking credit for debt restructuring achievements initiated under the Akufo-Addo administration.
In a press statement issued on Tuesday, July 29, the group described the Finance Minister’s remarks on public debt as misleading.
The Spokesperson of the group, Mohammed Amin Adam said this while reacting to statements made by Dr Cassiel Ato Forson during his presentation of the 2025 Mid-Year budget.
According to the Finance Minister, Ghana’s public debt-to-GDP ratio had declined from 61.8% in December 2024 to 43.8% in June 2025, which he attributed to prudent economic management.
But the Minority questioned how much of the actual debt had been repaid to warrant such a claim.
“It is no secret that the painstaking efforts the NPP government made to restructure our debts… led to outright debt cancellation of US$5 billion and debt service savings of US$4.7 billion. What then did the NDC government do to claim a reduction in the public debt?” they asked.
They also disputed the Finance Minister’s claim of credit rating improvement, citing Fitch’s June 2025 statement, which linked the upgrade directly to the October 2024 Eurobond restructuring under the previous administration.
“Was Dr Ato Forson the Finance Minister in October 2024?” they questioned.
The Minority further criticised what they called “propaganda economics” and a lack of integrity. “How do you criticise an exercise, and accept the product of the same exercise? We know that Ghanaians understand this kind of economics – propaganda economics,” Amin Adam stressed.
