Ghana has successfully exited the “peak of its crisis”, with key economic indicators pointing towards a sustained recovery, according to economist Professor Godfred Bokpin.
In an exclusive interview on Joy FM’s Super Morning Show, Prof. Bokpin reassured the public that while the recent volatility of the Cedi is a concern, it is part of a normal market correction rather than a sign of a worsening situation.
He urged a sense of calmness, emphasising that the current positive trends are not a “fluke”.
The economist’s analysis is grounded in recent data showing a broadening of the economy.
The Ghana Statistical Service reported a 6.3% GDP growth in the second quarter of 2025, which, while slightly lower than the first quarter’s 6.8%, indicates that growth is spreading across various sectors beyond just traditional ones. This diversification, he noted, suggests a more resilient economic foundation.
A major win for the economy, Prof. Bokpin highlighted, is the dramatic fall in inflation. The annual inflation rate has decelerated sharply from 23.8% in January 2025 to 11.5% at the end of August 2025. This marks the lowest inflation rate in almost two years, a significant achievement that has helped stabilise the purchasing power of citizens.
While acknowledging the impressive performance of the Cedi earlier this year—which appreciated by over 40% against the US Dollar by mid-2025—he described it as a speculative rally that had “jumped the gun” ahead of the real economic recovery.
The current depreciation, therefore, is a necessary correction as market forces find a new equilibrium.
Prof. Bokpin stressed that the government’s fiscal consolidation efforts and the aggressive monetary policy of the Bank of Ghana have been instrumental in calming the economic heat.
These strategic measures have created a stable platform from which the country can continue to build.
He concluded by reiterating his belief that the current economic indicators prove that the nation is on a path to recovery, and that continued calm and focus on fundamental reforms will ensure a successful rebound.