Cedi’s 16.7% surge marks major economic turnaround – Finance Minister

Ghana’s Finance Minister, Dr. Cassiel Ato Forson, praised the cedi's strong performance. He called it a “remarkable turnaround” for the economy.

On May 13, 2025, Dr. Forson announced that the cedi appreciated by 16.7% against the US dollar this year. This reversed a 13.4% depreciation during the same period in 2024. He stated, “The cedi has solidified its position as the standout performer among global currencies.”

Dr. Forson credited this surge to a coordinated policy framework. He explained that it comes from synchronized monetary and fiscal measures and a favorable global context.

He mentioned that strict monetary policy by the Bank of Ghana helped significantly. Aggressive liquidity sterilization and prudent public finance management also contributed to this success.

Additionally, foreign exchange inflows from gold, cocoa, and remittances were vital. The Minister noted that a softening US dollar amid global uncertainties aided local currency appreciation.

“Our foreign exchange reserves at the Bank of Ghana reached record highs in April 2025,” he said. These reserves surpassed targets set under the IMF-supported program ahead of schedule.

Dr. Forson assured Ghanaians that this positive momentum is sustainable. He emphasized the importance of the Goldbod initiative for future performance.

He concluded by urging all stakeholders to support President John Dramani Mahama’s economic reset for inclusive prosperity.