The cedi will relapse by December – Dr Vladimir Antwi Danso

Dr. Vladimir Antwi Danso, a Senior Fellow at the Institute of Economic Affairs, predicts the Ghana cedi will decline by December. He emphasizes that Ghana needs to become an export economy for the cedi to stabilize.

Dr. Danso believes the cedi's current stabilization is not permanent. He stated, “We must try and be an export economy. This is the only way to strengthen our currency.” He warned that without this change, we will relapse by December.

He clarified that his comments are based on technical analysis, not politics. Dr. Danso added, “It is not yet a hurray for the Cedi kind of appreciation.”

Meanwhile, Dr. Johnson Asiamah, Governor of the Bank of Ghana, addressed concerns about the cedi's stability. He confirmed that the Central Bank is not using international reserves to support it.

Dr. Asiamah noted that the cedi has appreciated by 24.1%. He dismissed claims that the Central Bank is manipulating exchange rates for this appreciation.

He explained that recent gains are due to disciplined monetary policy and improved remittance flows. These changes reflect structural adjustments aimed at long-term stability.

At the Ghana CEO Summit in Accra on May 26, 2025, he said: “Our Cedi has appreciated by 24.1% against the US dollar.” He emphasized that this appreciation is market-driven and sustainable.

Dr. Asiamah highlighted ongoing reforms in forex auctions and market surveillance as key factors in strengthening the currency.