Cedi's appreciation not a 'nine-day wonder' - Finance Minister

Finance Minister Dr. Cassiel Ato Forson assured stakeholders about the cedi's recent appreciation. He stated this is not a temporary change but a result of strategic economic management.

During a meeting with the Food and Beverage Association of Ghana (FABAG), he emphasized the government's commitment to maintaining the cedi's stability and strength.

Dr. Forson said, “The appreciation of the cedi will continue and be sustained.” He explained that this positive trend comes from sound economic planning and strategic interventions.

He noted, “The stability you are witnessing is not a knee-jerk reaction.” It is based on careful, well-thought-out planning.

Recently, the cedi has gained significantly against major currencies. The interbank rate is now GH¢13.29 to the US dollar, improving from over GH¢16 earlier this year.

Dr. Forson reminded attendees that he aimed to stabilize the currency when he took office. His goals include reducing inflation and creating jobs.

“This is not a nine-day wonder,” he stressed. He expects support for these efforts so Ghanaians can feel the impact.

His comments align with broader government efforts to restore macroeconomic stability and boost investor confidence.

Ghana recently reached a staff-level agreement with the International Monetary Fund (IMF). This agreement relates to the fourth review of its IMF-supported program, which could bring in about $370 million for economic recovery efforts.