The Deputy Minister for Roads and Highways and Member of Parliament for Tamale North, Hon Alhassan Sayibu Suhuyini, has strongly criticized sections of the Ghanaian media for what he described as misleading reportage on the performance of the Ghana cedi.
He said such distortions not only misinform the public but also undermine confidence in the economy at a time when accuracy in financial reporting is most needed.
Speaking in response to recent reports, Hon Suhuyini drew attention to a Bloomberg article that provided a nuanced analysis of the cedi’s trajectory in recent months. The Bloomberg headline read, “Ghana Cedi world-beating performance upended by import surge”.
According to Hon. Suhuyini, the global business media outlet was clear in its framing, indicating that while the cedi had enjoyed a strong run earlier in the year, its performance was disrupted largely by seasonal pressures from increased demand for the dollar due to import activity ahead of the festive season.
However, he noted with concern that Graphic Online, a state-owned media platform, reproduced the Bloomberg report but carried it under a misleading headline that read, “Ghana Cedi worst performing currency”, and attributed it to Bloomberg.
Misrepresentation of Facts
Hon Suhuyini described this as a clear misrepresentation of facts, stressing that Bloomberg never described the cedi as the worst-performing currency.
“I saw the Bloomberg story, and maybe Paul will help me; my English may not be that good. The headline for the Bloomberg story was Ghana Cedi world-beating performance upended by import surge. This was a Bloomberg headline. I don’t know how ‘upended’ easily translates into ‘worst cedi’”
Hon Alhassan Sayibu Suhuyini
The Tamle North MP argued that the misleading headline had far-reaching consequences, as many people who search online are more likely to come across the Graphic Online version than the original Bloomberg publication.
This, he said, creates a distorted public perception of Ghana’s economic situation and could even have implications for investor confidence. “Anybody who Googles today may most likely come across the Daily Graphic headline that is attributed to Bloomberg, even though Bloomberg did not report that,” he stated.
Clarifying further, Hon Suhuyini pointed to the Bloomberg article’s content. The piece explained that a surge in demand for dollars by companies paying for imports before the year-end holiday season had ended the cedi’s run as the world’s top-performing currency in the second quarter.
The story added that the Ghanaian currency had weakened by about 13% so far in the quarter, which was the biggest decline globally at the time. This, however, only erased some of the 50% gain recorded earlier in the year, a performance that was underpinned by stronger bullion prices and had placed the cedi as the world’s best performer in the three months through June.
In Suhuyini’s view, this clear explanation in Bloomberg’s report was stripped of its context when the Graphic Online repackaged it with a sensational headline that contradicted the facts.
“Nowhere in this story has Bloomberg said the cedi is the worst-performing currency,” he emphasized, adding that the media has a duty to inform, not to misinform.
Motives behind the Misrepresentation
The Tamale North MP further questioned the motives behind the misrepresentation, suggesting that the choice of headline by a government-owned news outlet raised uncomfortable questions.
“What agenda was whoever setting at the Graphic? I don’t know, but I think there was clearly an agenda being set at the Daily Graphic, which beats my imagination that a government-owned broadcasting outlet will set such a negative agenda”.
Hon Alhassan Sayibu Suhuyini
The lawmaker’s comments underline the broader issue of media responsibility in shaping narratives about Ghana’s economy. With the cedi being one of the most closely watched indicators of the country’s fiscal health, he stressed that even subtle distortions could have significant political and economic consequences.
The Deputy Minister called on journalists and editors to exercise greater diligence when reporting on economic matters, particularly when referencing international sources.
He argued that accuracy was not just a professional obligation but also a civic responsibility, especially in an environment where economic data is keenly contested and easily politicized.
While acknowledging that the cedi had experienced volatility, Hon Suhuyini maintained that it was inaccurate and damaging to present the currency as the worst performer globally, particularly when reputable sources had not made such a claim.
His intervention reflects broader concerns among government officials about the need to safeguard the credibility of economic reporting, especially by state-owned media institutions.
For Suhuyini, the episode should serve as a reminder that the media’s role goes beyond the mere transmission of information. It is also about ensuring that citizens, investors, and policymakers are equipped with reliable facts upon which to base their decisions.
Misleading headlines, he warned, could fuel unnecessary panic and erode trust in both institutions and the economy at large.
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