Audio By Carbonatix
Ghana’s Finance Minister, Dr Cassiel Ato Forson, has credited the cedi’s dramatic resurgence to strategic coordination between the country’s monetary and fiscal authorities.
Speaking at a press briefing in Accra, Dr Forson described the currency’s 16.7% year-to-date appreciation against the US dollar as a “remarkable reversal” from the 13.4% depreciation recorded during the same period in 2024.
“As of May 13, 2025, the Ghana cedi has solidified its position as the standout performer among global currencies,” he stated, noting the turnaround as a reflection of “sound policy, not luck.”
Dr Forson highlighted that this performance was driven by “a robust policy framework underpinned by synchronised monetary and fiscal measures, as well as a favourable global context”.
He explained that the Bank of Ghana had adopted a stringent monetary policy in collaboration with the Ministry of Finance, focusing on aggressive liquidity sterilisation, while the Ministry had pursued a disciplined fiscal path centred on prudent public finance management.
“This coordinated approach has ensured stability while restoring investor confidence in the economy,” he noted.
The Finance Minister also pointed to record-high foreign exchange reserves in April 2025 as a sign of sustainability, despite the currency’s sharp gains.
“The unprecedented performance of the Ghana cedi has not come at the cost of our safety net. In fact, our foreign exchange reserves at the Bank of Ghana surpassed IMF-supported programme targets ahead of schedule,” he said.
He credited enhanced inflows from gold, cocoa, remittances, and a softening US dollar for further strengthening the local currency.
Looking ahead, Dr Forson said the activities of the newly operational Goldbod will deepen Ghana’s foreign exchange base and further stabilise the cedi.
“This paradigm shift will challenge traditional models reliant on old patterns, potentially leading to inaccurate projections and missing the true potential of the cedi,” he remarked.
He concluded by urging the new Goldbod Board to sustain the positive trajectory.
“Together, let us help to propel John Dramani Mahama’s ongoing reset of Ghana’s economy and our effort to deliver economic prosperity for all Ghanaians.”
Latest Stories
-
Former Ivory Coast coach Gasset dies
35 minutes -
An Open Letter to the Deputy Attorney General, Dr Justice Srem-Sai
42 minutes -
Humour at its finest at Kumasi Comedy Show
55 minutes -
Police Christmas special operation: 101 suspects arrested in Greater Accra
1 hour -
15 arrested after sporadic shootings at Ho central mosque
2 hours -
GES condemns alleged theft of food supplies at Awaso STEM SHS
2 hours -
DopeNation electrifies crowd at Joy FM’s Party in the Park
2 hours -
Philip Ayesu emerges as the 2025 Achimota Champion after beating Percival Kwadjo Ampoma
2 hours -
Support your own – Mr P tells Ghanaian artistes
2 hours -
Ghana EXIM Bank develops 5-year export-led growth strategy to drive trade expansion
3 hours -
Big Smiles, Bigger Bounces: Kids take over the fun at the Joy Party in the Park
3 hours -
Joy FM Party in the Park 2025: Kwabena Kwabena takes centre stage
4 hours -
Ghana-Nigeria cyber-fraud network dupes over 200 victims of $400,000
4 hours -
Tackling terrorism requires jobs and anti-corruption drive, not strikes alone – Nigerian security analyst
4 hours -
Terror attacks in Nigeria affect all faiths, not only Christians – Security analyst
4 hours
