Former Majority Leader Osei Kyei-Mensah-Bonsu has commended the government for the recent improvement in Ghana’s macroeconomic indicators, describing the strengthening of the Cedi against major currencies and the drop in inflation to 9.4% as a “stupendous achievement.”
Speaking on Channel One TV’s The Point of View with Bernard Avle on Monday, October 6, 2025, Mr. Kyei-Mensah-Bonsu highlighted the significance of the economic gains but stressed that more work remains to ensure the benefits reach ordinary Ghanaians.
“What should concern us now is the cost of borrowing because it is not reflecting in that. Is there anything wrong? Because necessarily it should translate into that. If the interest rate is still hanging up there it means some of the fundamentals are not talking to each other and we need to interrogate each other,” he said.
The former lawmaker also credited part of the current economic stability to the international reserves left by the previous administration, noting that over US$9 billion in reserves helped buoy the country’s financial position.
While he praised the government for steering the economy in a positive direction, Mr. Kyei-Mensah-Bonsu emphasised the need for continued vigilance and effective coordination between monetary and fiscal policies to sustain the gains.
The Bank of Ghana’s latest Monetary Policy Report indicates a decline in average lending rates, which have eased from 26.6% to 24.2%.
Yields on money market instruments are also showing a downward trend. For example, the 91-day Treasury bill rate fell from 13.4% at the end of July 2025 to 10.3% in August.
