We are gradually massaging the cedi to find its true level – Isaac Adongo

Isaac Adongo, a Board Member of the Bank of Ghana, spoke about the cedi. He said the Bank of Ghana and the Ministry of Finance are working together. They aim to find the true value of the cedi.

Adongo, a member of parliament, stated that the NDC government has not arrested the cedi. He mentioned that someone who claimed to have done so is still around.

On JOYNEWS, Adongo explained their approach. He described it as an intentional policy effort. The Ministry of Finance and the central bank are collaborating on this issue.

He noted that this is a temporary solution for Ghanaians. Their goal is to address food inflation directly.

Adongo emphasized they have not arrested the cedi. He reiterated that they are gradually massaging it to find its true level.

He added that they want stability for the cedi's value. They do not seek drastic changes from ¢15 to ¢3. Instead, they want a level that supports Ghana's economy.

Bloomberg reports that since early April, the Ghana cedi has appreciated significantly. As of May 15, 2025, it trades at GH¢12.45 per dollar.