Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has described the recent surge in the value of the Ghana cedi as a “remarkable turnaround” and a major milestone in the country’s economic recovery.
Speaking at a press briefing on May 13, 2025, Dr. Forson announced that the cedi had appreciated by 16.7% against the US dollar so far this year, a reversal from the 13.4% depreciation recorded over the same period in 2024.
“The cedi has emerged as the best-performing currency globally this year,” he said, crediting the impressive rebound to a “coordinated and robust policy framework.”
Dr. Forson pointed to the combined impact of tight monetary policy by the Bank of Ghana, aggressive liquidity management, and disciplined public finance measures as key drivers behind the currency’s resurgence. These efforts, he said, were implemented within a stable global environment that further supported Ghana’s economic progress.
He also highlighted the crucial role of foreign exchange inflows from traditional export sectors such as gold and cocoa, as well as remittances from the diaspora. The global weakening of the US dollar, he added, had further bolstered the cedi’s performance.
“Our foreign exchange reserves hit a record high in April 2025, exceeding the targets outlined in the IMF-supported programme ahead of schedule,” Dr. Forson revealed, expressing confidence that the current gains are sustainable.
He singled out the newly implemented Goldbod initiative as a strategic tool to maintain momentum, noting: “The activities of the Goldbod will not only reinforce the cedi’s performance but also reshape Ghana’s approach to foreign exchange accumulation.”
