By: Franklin ASARE-DONKOH
Economist and Professor of Finance at the University of Ghana Business School (UGBS), Prof. Godfred Bokpin, has appealed to President John Dramani Mahama to align the 2026 fiscal policy and budget with the promises he made to Ghanaians during the 2024 electioneering campaign.
According to him, the Mahama-led government cannot continue on the path of expenditure-based fiscal consolidation to sustain the cedi going into 2026.
“From 2026 and 2027, the government will have to operate its budget largely in line with the promises it made to the electorate,” Prof. Bokpin stated.
Speaking on JoyNews’ PM Express on Monday, May 12, 2025, the renowned economist noted that the recent appreciation of the cedi against some major international currencies is not enough. “We are not doing much this year,” he reiterated.
“Getting the cedi stabilised and all of that — it’s good news to some extent, but I am not in favour of major disruptions in the market,” Prof. Bokpin added.
He emphasised that the government should focus on building long-term confidence. “I would prefer that we accumulate reserves that allow confidence to be sustained for a much longer period — even beyond five or ten years,” he noted.
The Professor further stated that stabilising the cedi should not come at the expense of real economic transformation.
“You see the Asian growth dynamics, and you want to link it to whether there’s also a significant improvement from an interest rate point of view — and whether that translates into a lower cost of borrowing, and how all of that aligns with export diversification and realisation policy,” Prof. Bokpin explained.
