Finance Minister Dr. Cassiel Ato Forson has praised the Ghana cedi’s strong performance against major global currencies, describing it as a major shift in the country’s economic trajectory.
Speaking at the swearing-in of members of the Governing Board of the Ghana Gold Board (GoldBod) in Accra on Monday, May 19, Dr. Forson disclosed that the cedi had appreciated by 16.7% against the US dollar as of May 13, 2025—marking a sharp turnaround from the same period last year.
“As of May 13, 2025, the Ghana cedi has solidified its position as the standout performer among global currencies, achieving a remarkable 16.7% appreciation against the US dollar year-to-date,” he said.
“This marks a significant reversal from the 13.4% depreciation observed in the same period of 2024, with the cedi earning recognition as the top-performing currency in April 2025,” he added.
Dr. Forson credited the improvement to coordinated policy efforts between the Bank of Ghana and the Finance Ministry.
“This rally stems from a robust policy framework, underpinned by synchronized monetary and fiscal measures, as well as a favorable global context. The central bank, in close collaboration with the Ministry of Finance, has adopted a stringent monetary policy, complemented by aggressive liquidity sterilization,” he explained.
He further expressed confidence that the work of GoldBod would help sustain and enhance the cedi’s stability.
“The activities of the Goldbod stand to further strengthen this performance. In fact, it will change how both the Ghana cedi and Ghana’s foreign exchange accumulation will behave in the future,” Dr. Forson said.
SOURCE: Citinewsroom
