Chairman of Ghana’s National Development Planning Commission, Dr Nii Moi Thompson, has pushed back against claims that recent gains in the Ghanaian cedi are primarily the result of US President Donald Trump’s economic policies.
“Some say we are gaining because of Trump’s policies in the US – Trump doesn’t even know where Ghana is.
“It would be foolish to ascribe everything to Trump,” he stated pointedly, drawing laughter and nods of agreement from his audience at the Gender Equitable and Transformative Social Policy for Africa (GETSPA) conference held at the Ghana Academy of Arts and Sciences.
Dr Thompson acknowledged that global factors such as a weakening US dollar may have played a part in the cedi’s improved performance but argued strongly that the real credit belongs to Ghana’s own efforts.
“There may well be some element of the US dollar weakening, but that cannot explain everything. We must also take credit for our own efforts – fiscal discipline by the Ministry of Finance, monetary tightening by the Bank of Ghana, and the removal of excess liquidity from the system.”
Emphasizing the importance of domestic economic governance, he called on Parliament to play a more proactive role in overseeing public borrowing.
“Parliament must demand rigorous analysis before approving loans – including how funds will be allocated, disbursed, and monitored. Stronger institutional checks are crucial,” he urged.
