The Minister of Finance Dr. Mohammed Amin Adam has issued a strong caution against speculation surrounding the cedi's current challenges, urging the public to refrain from actions that could further destabilise the currency.

This warning comes in response to comments made by Isaac Adongo, Member of Parliament for Bolgatanga Central, who recently advised businesses to purchase dollars despite the Minister’s assurances of the cedi’s imminent stability.

At a joint press conference with officials from the Bank of Ghana and the International Monetary Fund (IMF), Dr. Amin Adam criticised Mr. Adongo's statements, reaffirming the government’s commitment to stabilising the exchange rate.

“The problem with the cedi can also largely be attributed to speculations. While we have been making efforts to influence market sentiments positively, some people are inciting speculations,” Dr. Amin Adam stated.

“We have had intelligence that people are deliberately inciting speculations. This became evident when my good friend and brother, Hon. Adongo, urged people to buy dollars for their business after I had indicated at the Town Hall Meeting in London that the cedi would become stronger with the policies we are implementing and the financial flows we are expecting,” he indicated.

Dr. Amin Adam emphasised the need for constructive criticism from the minority, describing the incitement of speculations as “unhealthy” for the economy.

“I think that this is not healthy for our economy. We should all work together, whether we are in the government or the minority, because we are all stakeholders in this economy. We have a duty to our people to ensure that the economy is stronger for the benefit of all,” he appealed.

He continued: “My friends on the minority side, I want to appeal to you to stop inciting speculations and to work with us. Give us constructive criticisms and ideas so that we can complement the ideas that we are already pursuing.”