Cedi Appreciation Is an Improvement, Not Permanent- BoG Boss

The Governor of the Bank of Ghana (BoG), Dr Johnson Pandit Asiama, has intimated that his outfit is not treating the recent exchange rate stability as permanent but as an improvement.

He credited sustained monetary discipline, improved food supply conditions, and closer coordination between the Bank and the Ministry of Finance for the improvement.

However, he said sustainability will result from fiscal restraint instead of excess, production over consumption, exports over imports, and long-term thinking over short-term comfort.

Delivering a speech during a visit by the King of the Asante Kingdom, Otumfuo Osei Tutu II, on January 7, 2026, Dr Asiama said, “We remain careful not to confuse improvement with permanence. Exchange rate stability is not something that can be declared; it must be earned continuously.

“A currency remains strong only when the real economy beneath it is productive, competitive, and disciplined. That is why we see the cedi’s performance not as a victory lap, but as a responsibility.”

This was in response to earlier concerns echoed by Otumfuo about the cedi gains during a courtesy call by the Board and Management of the Bank last year.

Story by Hajara Fuseini

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