Cedi appreciation attributed to deliberate policy measures by Mahama's administration – Sammy Gyamfi

The National Communications Officer of the National Democratic Congress (NDC), Sammy Gyamfi, has praised the recent rise of the Ghanaian cedi. He attributes this to strategic policies by the NDC government under President John Dramani Mahama.

On May 21, 2025, Mr. Gyamfi stated that the cedi appreciated by 16.7% from January to May 2025. He credited this improvement to effective monetary, fiscal, and foreign exchange management.

Mr. Gyamfi identified three key factors behind the currency's recovery:

1. Tight Monetary Policy and Liquidity Control:
He noted that the Bank of Ghana raised the Monetary Policy Rate by 100 basis points in March 2025. This increase went from 27% to 28%. It was supported by aggressive liquidity control measures and open market operations.

2. Fiscal Consolidation and Investor Confidence:
Mr. Gyamfi highlighted the Ministry of Finance's focus on fiscal discipline and prudent financial management. These efforts have restored investor confidence in Ghana’s economy.

3. Robust Forex Inflows and Reserve Accumulation:
He mentioned that increased gold purchases and exports boosted foreign reserves. Improved inflows from cocoa exports and remittances also contributed significantly.

Additionally, he acknowledged a favorable global context. The weakening US dollar due to economic uncertainties has helped enhance the cedi’s performance.

Mr. Gyamfi stressed that this recovery is not accidental but results from "deliberate, coherent, and disciplined economic management" by the NDC/Mahama administration.