{"id":276706,"date":"2025-11-22T05:25:10","date_gmt":"2025-11-22T05:25:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/276706\/"},"modified":"2025-11-22T05:25:10","modified_gmt":"2025-11-22T05:25:10","slug":"government-pumped-8-billion-to-shore-up-cedi","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/276706\/","title":{"rendered":"Government ‘pumped’ $8 billion to shore up cedi"},"content":{"rendered":"

\"Kojo <\/a>Kojo Oppong Nkrumah, the Ranking Member on the Economic Committee of Parliament<\/p>\n

Kojo Oppong Nkrumah, New Patriotic Party<\/a> (NPP) Member of <\/a>Parliament<\/a> for Ofoase Ayirebi, has alleged that government, through the Bank of Ghana<\/a>, has injected US$8 billion into the economy this year in a bid to stabilise the Cedi against foreign exchange pressures. <\/p>\n

Speaking on the floor of <\/a>Parliament<\/a>, during the debate on the 2026 Budget, Oppong Nkrumah cautioned that the intervention was only a temporary measure. <\/p>\n

He warned that any external shock could erode the gains made, leaving the currency vulnerable once again. <\/p>\n

The legislator disclosed that government had cut GH\u00a228 billion in expenditure after failing to meet its revenue targets. <\/p>\n

As a result, he said, the administration could not allocate US$5 billion to the Feed Ghana programme, which was intended to boost agricultural productivity. <\/p>\n

Oppong Nkrumah also criticised government for failing to provide GH\u00a251 million seed capital to the Women\u2019s Development Bank, describing the move as a setback for women\u2019s empowerment initiatives. <\/p>\n

The lawmaker questioned the fiscal priorities of the administration, citing the announcement to purchase two executive jets as misplaced at a time when resources were scarce. <\/p>\n

He urged the government to review its fiscal strategy and channel investments into real sectors of the economy to spur growth and create sustainable jobs. <\/p>\n

In response, Cletus Seidu Dapilah, National Democratic Congress (NDC) MP for Jirapa, expressed optimism about the 2026 Budget, insisting that it offered hope for employment opportunities for the youth.<\/p>\n","protected":false},"excerpt":{"rendered":"Kojo Oppong Nkrumah, the Ranking Member on the Economic Committee of Parliament Kojo Oppong Nkrumah, New Patriotic Party…\n","protected":false},"author":2,"featured_media":276707,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,1294,56,54,55],"class_list":{"0":"post-276706","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-uk","11":"tag-united-kingdom","12":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/276706","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=276706"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/276706\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/276707"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=276706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=276706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=276706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}