Finance Minister Dr Cassiel Ato Forson has declared that the Ghanaian cedi is no longer depreciating, citing its recent strong performance against major foreign currencies.
Addressing Parliament during the presentation of the 2025 Mid-Year Budget Review on Thursday, July 24, the Minister remarked, “Cedi no apicki” — to emphasise the local currency’s stability and appreciation in recent months.
Dr Forson noted that the cedi, which began the year at around GH¢15 to the US dollar, has strengthened significantly to trade at approximately GH¢10.45 on the interbank market.
He attributed this recovery to improved macroeconomic fundamentals, increased export inflows, and renewed investor confidence in Ghana’s economy.
“This performance reflects the positive impact of sound fiscal and monetary policies, growth in gold and cocoa exports, and steady remittance flows,” he told Parliament.
He also indicated that the cedi’s appreciation is already contributing to price stability, with marginal reductions observed in the prices of some imported goods.
The Finance Minister assured Ghanaians that the government remains committed to sustaining the gains achieved so far.
“We will continue to implement prudent policies to preserve the value of our currency, reduce inflation, and ensure economic stability for all,” Dr Forson added.
Source: Classfmonline.com/Cecil Mensah
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