Cedi’s 16.7% surge signals economic rebound — Finance Minister

Finance Minister, Dr. Cassiel Ato Forson, has hailed the cedi’s 16.7% year-to-date appreciation against the US dollar as a “remarkable turnaround” and a sign of renewed economic strength.

Dr. Forson contrasted this sharp recovery with the 13.4% depreciation recorded during the same period in 2024, declaring the cedi “the best-performing currency globally so far this year”.

He credited the surge to a coordinated policy approach, citing a strong policy framework, tight monetary policy, disciplined fiscal management, and favourable global conditions.

Key drivers included aggressive liquidity tightening by the Bank of Ghana, improved public finance discipline, and robust foreign exchange inflows from gold, cocoa, and remittances.

He also noted that a weaker US dollar had supported the cedi’s upward momentum.

Dr. Forson revealed that Ghana’s foreign reserves hit a record high in April 2025, exceeding targets under the IMF-supported programme.

“These gains are not temporary. The fundamentals are strong, and we’re ahead of schedule,” he said.

He also spotlighted the government’s Goldbod initiative as a future game-changer for FX stability and cedi strength.

“Goldbod will transform how Ghana manages its foreign reserves and currency stability,” he noted.

Dr. Forson concluded with a call for national unity behind President Mahama’s economic reset agenda, urging all stakeholders to “stay the course” for inclusive and sustained growth.