Finance Minister Dr. Cassiel Ato Forson has confidently declared that the recent strengthening of the Ghanaian cedi is not a short-lived phenomenon but a reflection of strategic and disciplined economic management.
Speaking during an engagement with the leadership of the Food and Beverage Association of Ghana (FABAG), Dr. Forson dismissed concerns that the currency’s recent appreciation is temporary, assuring stakeholders that the government has laid a strong foundation for sustained currency stability.
“I want to use this opportunity to assure all of you that what you are seeing — the appreciation of the cedi — will not only continue but will be sustained,” he said.
The cedi has recently gained ground against major international currencies, with the interbank exchange rate improving to GH¢13.29 per US dollar — a significant recovery from over GH¢16 earlier in the year.
Dr. Ato Forson attributed this improvement to deliberate policy measures and robust planning.
“The stability and appreciation you are witnessing are not a knee-jerk reaction; they are the product of careful, well-thought-out planning,” he explained.
He reiterated his commitment to stabilising the local currency, reducing inflation, and creating employment opportunities, asserting that these goals remain central to the government’s broader economic recovery agenda.
“This is not a nine-day wonder. There will be stability, the cedi will be stronger, and we expect you to support these efforts so that Ghanaians can feel the impact,” Dr. Forson emphasized.
The minister’s comments come amid growing optimism following Ghana’s recent staff-level agreement with the International Monetary Fund (IMF) on the fourth review of its programme.
The agreement is expected to unlock a $370 million disbursement to further bolster the country’s economic recovery.