Finance Minister Dr. Amin Adam has confidently forecasted a rebound of the Ghanaian Cedi against the US dollar after its recent depreciation against other major currencies.
The minister, who is also the MP for Karaga, made this assertion while announcing the successful completion of the government’s debt restructuring program with official creditors.
Dr. Amin Adam highlighted that the restructuring of $5.1 billion in debt with these creditors, alongside the completed restructuring of $13.1 billion with Eurobond holders, will restore economic confidence.
This renewed confidence is expected to attract investors to the local economy, thereby strengthening 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.
Speaking at a town hall meeting in the UK over the weekend, Finance Minister Dr. Amin Adam lauded the economic management by the ruling New Patriotic Party (NPP).
He expressed confidence in the NPP’s prospects of winning 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.