Finance Minister Says Cedi Appreciation Due to Disciplined and Prudent Fiscal Management
The Minister for Finance, Cassiel Ato Forson, has attributed the cedi appreciation to disciplined and prudent fiscal management by the Mahama-led administration.
The cedi, as of May 13, had achieved a remarkable 16.7% appreciation against the US dollar and was crowned the best-performing currency in the world by Bloomberg.
This marks a significant reversal from the 13.4% depreciation observed in the same period in 2024.
At the inauguration of the 13-member Board of Directors of the Ghana Gold Board on May 19, the Finance Minister said improvement stems from a robust policy framework, underpinned by synchronised monetary and fiscal measures, as well as a favourable global context.
“The central bank, in close collaboration with the Ministry of Finance, has adopted a stringent monetary policy, complemented by aggressive liquidity sterilisation.
“Concurrently, the Ministry of Finance has implemented a disciplined fiscal stance anchored around prudent public finance management.”
According to him, these efforts are being bolstered with enhanced foreign exchange inflows from gold, cocoa, and remittances, as well as a softening US dollar amid global uncertainties.
Ato Forson, in his speech, further indicated that the foreign exchange reserves at the Bank of Ghana reached a record high in April 2025, surpassing targets set under the IMF-supported programme ahead of schedule.
Source: opemsuo.com/Hajara Fuseini
