We Want a Stable Currency, Not a Strong Currency; Mahama to BoG
President John Dramani Mahama has charged the Bank of Ghana (BoG) to work towards making the cedi a stable currency.
According to him, the resetting agenda is about cedi stability, not strength.
This comes as the country marks the 60th anniversary of the cedi.
“As we celebrate 60 years of our national currency, it is encouraging that the Bank of Ghana reaffirms its commitment to monetary stability and economic prosperity. That is what my #ResettingGhana Agenda is about. What we seek is a stable currency and not a strong #GhanaCedi,” he tweeted on Tuesday when the Bank launched the celebration.
President Mahama affirmed that a stable cedi will create a conducive environment for business and investment, and to ensure stable food prices, particularly to benefit the good people of Ghana.
“A stable cedi means a predictable business environment, affordable food prices, increased investor confidence and sustainable economic growth.”
The cedi replaced the Ghanaian pound as legal tender six decades ago on July 19 and has since remained a strong symbol of the country’s economic sovereignty and development.
To adapt to the changing demands of the Ghanaian economy, the Cedi has evolved through several modifications in form and policy direction over the last 60 years.
Story by Hajara Fuseini
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