Sustained cedi stability key to economic planning – Theo Acheampong

Dr. Theo Acheampong, an economist and political risk analyst, stressed the need for a stable Ghanaian cedi. He believes this stability is crucial for economic planning and investor confidence.

His remarks follow the cedi's recent strengthening against major currencies. This includes the US dollar, euro, and British pound. The trend has sparked renewed optimism about Ghana’s economy.

On May 12, Dr. Acheampong appeared on The Point of View with Bernard Avle on Channel One TV. He pointed out that high global gold prices could help stabilize the local currency. "If gold prices remain high this year, we can drive down rates," he said.

He emphasized that a predictable exchange rate is vital for sound economic decisions. Dr. Acheampong called for consistent policies to maintain and extend the cedi's gains over time.

"A sustained appreciation is what we want," he explained. Sharp dips followed by rises are not beneficial for anyone. He added that businesses need to plan based on expected rates, such as GHC12 to GHC13 per dollar for the year ahead.