The Bank of Ghana (BoG) says it will intensify efforts to re-anchor the cedi as the primary medium of exchange in the country.
Speaking at the Cedi @60 International Currency Conference, the governor of the central bank, Dr Johnson Asiama, emphasised the need to address the pressures of currency substitution and dollarisation that threaten Ghana’s economic sovereignty.
“At the same time, we are strengthening efforts to re-anchor the Cedi as the unquestioned medium of exchange, addressing the pressures toward currency substitution and dollarisation that threaten our economic sovereignty”
“As we advance this work domestically, our engagement with the global community becomes even more important,” he said.
The Governor’s remarks highlight the central bank’s commitment to maintaining currency stability and promoting the use of the cedi in domestic transactions.
The Bank of Ghana has implemented various measures to strengthen the cedi, including monetary policy interventions and efforts to increase foreign exchange inflows.
As Ghana continues to navigate the complexities of the global economy, the BoG’s engagement with the international community is crucial in promoting the country’s economic interests.
The Cedi @60 International Currency Conference provides a platform for stakeholders to discuss the future of the Ghanaian cedi and its role in the country’s economic development.
The conference has brought together policymakers, economists, and industry experts to share insights on the cedi’s performance and prospects.
The BoG’s efforts to strengthen the cedi are expected to contribute to Ghana’s economic growth and development, promoting a stable and prosperous economy for all Ghanaians.