The Minority in Parliament is urging the government to take decisive measures to ensure that the strengthening of the Ghanaian cedi translates into real economic relief for citizens.
“Everybody is happy that the cedi has become very strong, the exchange rate is coming down, but what is its effect on the cost of living despite the gains that we are experiencing?”
Deputy Minority Leader Patricia Appiagyei questioned during a Leaders’ Media Briefing.
She acknowledged the recent appreciation of the cedi, which has seen the local currency gain some ground against the US dollar in recent weeks.
The cedi’s recovery, buoyed by improved inflows and interventions by the Bank of Ghana, has been welcomed by economists and business leaders alike. However, the Minority insists that the benefits are yet to be felt in the everyday lives of Ghanaians.
“It is important that certain actions are taken to ensure that the downward trend of the cedi to the dollar will have a reflection on the cost of living in our country,” Appiagyei added.
Despite the positive signs in the forex market, prices of essential goods and services remain high, with transport fares, food items, and utilities still biting hard at household incomes.
The Minority maintains that unless government policy responds swiftly, the macroeconomic gains may ring hollow for many Ghanaians.
They are therefore calling for practical policy steps that will bridge the gap between economic indicators and daily survival — a move they say is crucial if citizens are to benefit from the cedi’s rebound.
