Cedi stability to depend on economy, some monetary policy measures – BoG Governor

Bank of Ghana Governor Dr. Ernest Addison has highlighted the pivotal role of economic stability and monetary policy measures in maintaining the Ghana cedi's stability in 2025.

Speaking on PM Express Business Edition on January 2, 2024, he credited the Domestic Gold Purchase Programme as a key contributor to the cedi's recovery and anticipated its continued impact.

Reviewing 2024, Dr. Addison noted the cedi's 22.7% depreciation against the dollar as of November, a marginal improvement over 2023's 26.2%. He attributed this to challenges under an ambitious IMF program and market uncertainties surrounding the December 2024 elections.

Looking ahead, he expressed optimism, citing improved economic conditions and reserves compliance under the IMF program in late 2024. He emphasized that the 2025 budget from the incoming administration would also significantly influence the cedi's performance.