Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has described the Ghana cedi’s strong performance as a “remarkable turnaround” in the country’s economic narrative.
Speaking on May 13, 2025, Dr. Forson announced that the cedi had appreciated by 16.7% against the US dollar year-to-date, reversing a 13.4% depreciation over the same period in 2024.
“The cedi has solidified its position as the standout performer among global currencies,” he stated.
Dr. Forson attributed the surge to a carefully coordinated policy framework.
“This rally stems from a robust policy framework, underpinned by synchronized monetary and fiscal measures, as well as a favourable global context,” he explained. He noted that stringent monetary policy by the Bank of Ghana, aggressive liquidity sterilisation, and prudent public finance management had worked in tandem to achieve this outcome.
In addition to sound policy, Ghana’s foreign exchange inflows from gold, cocoa, and remittances played a vital role. According to the Minister, the softening US dollar amid global uncertainties also contributed to the local currency’s appreciation.
“Our foreign exchange reserves at the Bank of Ghana reached a record high in April 2025, surpassing targets set under the IMF-supported programme ahead of schedule,” he stated, emphasising the sustainability of the gains.
Dr. Forson assured Ghanaians that this momentum is not fleeting. Highlighting the role of the Goldbod initiative, he said, “The activities of the Goldbod stand to further strengthen this performance… It will change how both the Ghana cedi and Ghana’s foreign exchange accumulation will behave in the future.”
He concluded by calling on all stakeholders to support President John Dramani Mahama’s economic reset and work towards inclusive prosperity.
