The Ghanaian Cedi has appreciated by 16.7% since January 2025, a development attributed to what officials describe as deliberate and coordinated economic policy interventions by the National Democratic Congress (NDC) government, led by former President John Dramani Mahama.
In a statement shared via Facebook, Sammy Gyamfi Esq., Acting Chief Executive Officer of GoldBod and National Communications Officer of the NDC, outlined a number of measures he says have been instrumental in stabilizing and strengthening the local currency.
According to Gyamfi, the recent gains are the result of a three-pronged approach: stringent monetary policies, fiscal consolidation, and increased foreign exchange inflows.
He noted that the Bank of Ghana played a central role through aggressive liquidity management and a hike in the Monetary Policy Rate from 27% to 28% in March 2025.
The Bank’s open market operations, aimed at sterilizing excess liquidity, were cited as a key factor in maintaining currency stability.
“Through a strategic decision to tighten monetary policy and mop up excess liquidity, the Bank of Ghana has helped reduce speculative pressures on the Cedi,” Gyamfi said.
On the fiscal side, the Ministry of Finance was commended for its role in restoring investor confidence.
“Fiscal consolidation efforts and prudent public finance management have signaled to the international community that Ghana is on a path of sustainable recovery,” he stated.
A critical part of the currency’s resurgence, Gyamfi added, has been the surge in foreign exchange reserves.
He attributed this to unprecedented gold purchases and exports driven by the Precious Minerals Marketing Company (PMMC) and GoldBod, in addition to robust inflows from cocoa exports and remittances.
“These forex inflows have significantly improved Ghana’s reserve position, giving the Cedi strong backing and resilience,” he explained.
Gyamfi also pointed to global economic trends, including the weakening of the US dollar amid geopolitical uncertainties, as external factors contributing to the Cedi’s performance.
The announcement comes amid growing optimism over Ghana’s economic prospects, with stakeholders hopeful that the recent gains can be sustained through continued policy discipline and effective resource management.
Source: www.kumasimail.com
