The Minister for Finance, Dr. Amin Adam, has made a bold prediction that the Ghana Cedi will make a comeback against the United States dollar, following the recent depreciation of the local currency against other major trading currencies.
The minister, who also serves as the Member of Parliament for Karaga, made the proclamation when he announced the completion of the government’s debt restructuring program with its official creditors.
According to the minister, the successfully restructured debt of 5.1 billion dollars with these creditors, in addition to the concluded restructuring of 13.1 billion dollars with Eurobond holders, puts the nation on the path of economic confidence, which will attract investors into the local economy to boost the strength of the cedi.
“Watch the cedi to the dollar after tomorrow… Let’s watch it and see; the confidence will come,” he stated.
“The investors will return to Ghana, and the growth trajectory will even become clearer for all of us,” Dr. Amin Adam added.
The minister was speaking at a town hall meeting held in the UK over the weekend.
Touting the superiority in the management of the economy by the current New Patriotic Party (NPP), Dr. Adam expressed confidence in the party’s ability to win the 2024 general elections against the opposition National Democratic Congress (NDC).
“On the economy, our record is better than their record. On the size of the economy, we’ve done better than them. On per capita income, we’ve done better than them. On job creation, we’ve done better than them. On economic growth, we’ve done better than them,” the minister said.
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