Finance Minister Cassiel Ato Forson has stated that the Ghanaian cedi’s recent gains reflect deliberate policy measures rather than temporary market fluctuations.
During discussions with the Food and Beverage Association of Ghana, Forson emphasized that the currency’s appreciation results from structured economic interventions designed for long-term stability.
The cedi has strengthened significantly in recent weeks, trading at GH¢13.29 to the US dollar on the interbank market compared to GH¢16 earlier this year. Forson described this improvement as evidence of effective fiscal management, noting that currency stabilization remains a key priority alongside inflation control and job creation.
“We implemented calculated measures to achieve this stability, and these gains will be sustained,” Forson told industry representatives. He urged businesses to align pricing with the improving economic indicators so consumers could benefit from the positive trend.
The minister’s assurances coincide with Ghana’s progress in its IMF-supported economic program, including a staff-level agreement for the release of approximately $370 million in funding. This development reinforces government efforts to restore macroeconomic balance and strengthen investor confidence in the local economy.
Analysts observe that while external factors like favorable global commodity prices have contributed, disciplined fiscal policies have played a decisive role in the cedi’s recovery. The true test will be whether these gains translate into tangible economic relief for households and businesses in the coming months.
Sustained currency stability could ease import costs and potentially slow inflation, though its full impact depends on consistent policy execution and external economic conditions. Market watchers will monitor whether the cedi maintains its trajectory as Ghana navigates ongoing debt restructuring and implements further economic reforms.
