Cedi appreciates by 16.7% under Mahama-led economic reforms – Sammy Gyamfi

Sammy Gyamfi is the National Communications Officer of the NDC. He credits the recent 16.7% appreciation of the Ghana Cedi to strategic policies by the NDC/Mahama administration.

In a Facebook post, Gyamfi highlighted three key interventions. These include a firm monetary policy from the Bank of Ghana, improved fiscal discipline from the Ministry of Finance, and increased foreign exchange inflows. These inflows come from exports, gold sales, and remittances.

He noted that in March 2025, the Bank of Ghana raised its Monetary Policy Rate from 27% to 28%. This decision helped contain inflation and stabilize financial markets. The Bank's efforts to control liquidity through Open Market Operations also boosted investor confidence.

Gyamfi praised the Ministry of Finance for its commitment to fiscal consolidation. He stated that renewed confidence in Ghana’s economy reflects “prudent public financial management.”

He mentioned that GoldBod and PMMC have significantly increased Ghana’s foreign reserves through record gold purchases and exports. Healthy inflows from cocoa and remittances have also strengthened the cedi against external shocks.

Gyamfi added that these positive impacts are enhanced by a global environment where the US dollar is weakening. This situation allows emerging market currencies like the cedi to thrive.

Despite critics doubting Ghana’s economic management, Gyamfi sees the cedi's performance as proof. He believes deliberate leadership backed by sound economic strategy can lead to positive change.