Finance Minister Dr. Cassiel Ato Forson has announced that the Ghanaian cedi is experiencing renewed stability, pointing to its marked appreciation against major international currencies.
Presenting the 2025 Mid-Year Budget Review to Parliament on Thursday, July 24, Dr. Forson underscored the progress by stating, “Cedi no apicki”, an expression signifying that the currency is no longer depreciating.
According to the Minister, the cedi, which opened the year at roughly GH¢15 to the US dollar, now trades at about GH¢10.45 on the interbank market. He attributed this rebound to stronger macroeconomic indicators, higher export earnings and restored investor confidence.
“This performance demonstrates the benefits of disciplined fiscal and monetary management, combined with growth in gold and cocoa exports and steady remittance inflows,” he told lawmakers.
Dr. Forson further explained that the currency’s appreciation is helping stabilize prices, with slight reductions in the cost of certain imported goods already being observed. He assured the public that the government remains committed to maintaining these gains.
“We will continue pursuing prudent policies to safeguard the cedi’s value, curb inflation and strengthen economic stability,” the Finance Minister added.
Source:TheDotNews