“Remarkable turnaround”: Ato Forson hails robust performance of Cedi under JM

Ato Forson Praises Strong Performance of the Cedi Under Mahama

Finance Minister Dr. Cassiel Ato Forson praised the Ghana Cedi's strong performance. He called it a remarkable turnaround on May 13, 2025. The cedi appreciated by 16.7% against the US dollar this year. This is a reversal from a 13.4% depreciation in 2024.

Forson stated that the cedi is now a standout performer among global currencies. He spoke during the inauguration of the Ghana Gold Board's board. He attributed this surge to a well-coordinated policy framework.

The minister explained that synchronized monetary and fiscal measures contributed to this success. Stringent monetary policy by the Bank of Ghana played a key role. Aggressive liquidity sterilization and prudent public finance management also helped.

Ghana’s foreign exchange inflows from gold, cocoa, and remittances were vital too. Forson noted that the softening US dollar amid global uncertainties aided local currency appreciation.

He mentioned that foreign exchange reserves at the Bank of Ghana reached record highs in April 2025. These reserves surpassed targets set under an IMF-supported program ahead of schedule.

Forson highlighted the Gold Board initiative's role in strengthening the cedi. He believes it will change how both the cedi and foreign exchange accumulation behave in the future.