The idea of price reduction is just a prank played on Ghanaians by NDC – Dr. Fokuo

A lecturer at the Kumasi Technical Univeraity(KsTU), Dr. Solomon Fokuo, has described the recent appreciation of the Ghanaian cedi against the US dollar as artificial and misleading.

Speaking in an interview on Wontumi’s Morning Show, Dr. Fokuo stated that the strengthening of the cedi is being manipulated to create a false impression and win public approval, despite the challenges on the ground.

He emphasized that although some Ghanaians are praising the government for the cedi’s performance, the reality is far different. According to him, the International Monetary Fund (IMF) will, in due time, reveal whether the appreciation is truly helping the economy or not.

Dr. Fokuo also pointed out that the government itself is struggling, noting that he personally finds it difficult to import goods from abroad due to the actual depreciation of the dollar in real market terms.

He concluded by debunking the recent claims of a decrease in rice prices, stating it is misleading. “What has been reduced is not the price but the quantity of rice in the bag,” he explained. “For instance, a 5kg bag of rice has now been reduced to 4kg, yet it is being sold at the same price. So, the idea of price reduction is just a prank played on Ghanaians.”