In a recent statement, Hon. Patricia Appiagyei, the Deputy Minority Leader and Member of Parliament for Asokwa, has attributed the recent appreciation of the Ghanaian cedi against the U.S. dollar to decisions made by former U.S. President Donald Trump, rather than the policies of current Ghanaian President John Mahama.
Appiagyei argues that Trump’s decisions contributed to the dollar losing strength. She insists that Mahama should not take credit for the cedi’s recent gains.
During her recent interview on Angel FM, Patricia alleged that the cedi is appreciating because “the dollar is no longer in high demand” as it used to be.
According to her, the cedi is not performing well against other major currencies like euro and pound because of Trump’s actions.
“Traders are unable to to reduce price of goods because they do not work with dollars alone, they relate with other currencies,”she stated.
This argument is based on ongoing discussions about the factors influencing Ghana’s currency stability, which is a critical issue for the nation’s economy.
Appiagyei’s comments suggest a perspective that external economic policies, particularly those of the U.S., have a significant impact on the cedi’s performance, potentially overshadowing domestic efforts.