Professor Peter Quartey, Director of the Institute of Statistical, Social and Economic Research (ISSER), contends that stabilizing Ghana’s currency around GH₵10 to the US dollar would optimize economic planning and investment.
His position contrasts with President John Mahama’s earlier suggestion of GH₵12 as a “realistic” target, reigniting national debate on exchange rate management.
In an interview with JoyNews, Quartey emphasized that predictability – rather than a specific rate – remains critical for businesses combating currency volatility. “Anything above 10, and basically stable around 10, will help businesses and investors plan,” he stated. The economist highlighted how erratic exchange rates disrupt importers, manufacturers, and SMEs through fluctuating input costs and uncertain pricing structures.
Quartey’s analysis shifts focus from political symbolism to economic functionality. He argues investor confidence hinges on currency stability for long-term projects, noting wild fluctuations raise risk perceptions regardless of strength direction. The comments respond to mounting business concerns over the cedi’s depreciation, which reached GH₵15.70 in mid-2024 before recent stabilization efforts.
The ISSER director frames the debate as a choice between short-term political targets and sustainable productivity growth. His intervention underscores how exchange rate stability directly impacts everyday business decisions across Ghana’s economy.
