Former finance minister, Seth Terkper, has said that Ghana’s economy is showing encouraging signals.
However, in order to help people make wise judgments, he asserted that the government must present data to back growing trends.
Addressing the media at the National Democratic Congress’ (NDC) delegates conference at the Accra Sports Stadium, he said “The signs are looking good, but let us support that with actuality.”
He further advised the administration to bear responsibility for economic problems rather than blaming them solely on external factors.
His comments come on the back of positive signs seen with the cedi against the dollar.
The local currency has over the past few days, especially since the start of December 2022, been gaining strength against the major trading currencies particularly, the Dollar.
Per the Bank of Ghana (BoG) rate, the cedi, as of Thursday December 15, was buying at GHS7.9975 to a dollar and and selling at GHS8.0056 to a dollar.
The Ghana cedi on December 14, 2022, gained 5.6% value against the US dollar, resulting in a cumulative gain of approximately 33.6% in the month of December alone.
This put the cedi as the strongest performing currency against the American ‘greenback’ in December 2022.
The cedi slumped by more than 54% against the dollar before December 2022.
Source: The Independent Ghana