Deputy Minister of Finance, Thomas Nyarko Ampem, has dismissed recent criticisms by former Vice President Dr Mahamudu Bawumia regarding the performance of the Ghanaian cedi, accusing them of focusing on “empty sloganeering” with the Cedi during their time in government.

Dr Bawumia, addressing the Young Executive Forum in London as part of his UK “Thank You Tour,” questioned the policy basis for the recent appreciation of the cedi, suggesting the gains were not backed by any substantive economic strategy.

But in a sharp rebuttal on Joy FM’s Midday News on Tuesday, 20 May, Mr Nyarko Ampem accused the former Vice President of continuing his well-known pattern of rhetoric without results.

“I’m not surprised by the statement made by the former Vice President. A man known for sloganeering during his time in office would naturally make such comments,” the Deputy Minister stated.

“But the difference is clear — while they shouted slogans, we are quietly delivering results.”

Read also: ‘NDC has no policy behind cedi gains’ – Bawumia dismisses credit for currency stability

Mr Nyarko Ampem stressed that the current administration, under the National Democratic Congress (NDC), is focused on measurable outcomes rather than political point-scoring.

“For us, we will not be going around shouting about slogans and policies. We will deliver. And the end will justify the means,” he affirmed.
He highlighted specific interventions that have supported the cedi’s recent stability, pointing to the government’s strategic initiatives, such as the establishment of the Gold Board, which he described as a turning point.

“We spoke extensively about the Gold Board and told Ghanaians it would make a difference. From January to April 2024, gold exports were around $860 million. Today, thanks to the Gold Board and our structured approach, we’ve exported over $2.7 billion worth of gold. That is not talk — that is delivery,” he explained.

The Deputy Minister also credited the revival of a derailed IMF programme with boosting investor confidence and creating macroeconomic stability.

“Since we took over, borrowing has reduced, and Treasury bill rates have been dropping consistently since February. These are tangible results, not slogans. And that’s what’s driving the growing confidence in our economy,” he said.

In a final jab at Dr Bawumia, Mr Nyarko Ampem urged him to reflect on the economic difficulties experienced under his watch.
“The difference is obvious. Lives are becoming bearable again, and that’s what matters most.”