In a significant boost to Ghana’s economic landscape, the Ghanaian Cedi has demonstrated unprecedented resilience, appreciating by 42.6% against the US Dollar, 30.3% against the British Pound, and 25.6% against the Euro by the end of June 2025. This remarkable turnaround was highlighted by Finance Minister Hon. Dr. Cassiel Ato Forson during the 2025 Mid-Year Fiscal Policy Review presented to Parliament.
Dr. Ato Forson described the Cedi’s performance as historic, noting, “It is the first time that this level of appreciation has been recorded in the 60-year history of the Ghana Cedi.” This achievement comes after a period of depreciation in 2024, where the Cedi had weakened by 18.6%, 17.9%, and 16.0% against the Dollar, Pound, and Euro, respectively. The Minister’s address underscored that the current gains have nearly reversed all the depreciation experienced between 2022 and 2024, signalling a robust recovery driven by strategic fiscal and monetary policies.
The appreciation of the Cedi is attributed to a combination of domestic initiatives and favourable global economic conditions. Key among these is the Bank of Ghana’s Gold4Oil and GoldBod programmes, which have significantly bolstered the country’s gold reserves, increasing them by 40.6% from May 2024 to April 2025. Additionally, a temporary suspension of external debt repayments has provided much-needed stability to foreign exchange reserves, further supporting the Cedi’s strength.
Dr. Ato Forson’s presentation also comes at a time when Ghana’s macroeconomic indicators are showing signs of improvement, raising expectations for continued fiscal consolidation and investor confidence. The Minister’s focus on these gains reflects a broader strategy to ensure long-term price stability and economic growth.As Ghana navigates these positive developments, the international community and local stakeholders are closely watching the implications for trade, investment, and the overall economic outlook. The Cedi’s performance is seen as a critical factor in maintaining economic stability and fostering a conducive environment for sustainable development.
Find attached a post made by Dr. Ato Forson on his verified X account;
This article was published on bigstuffmediagh.com on 31 July 2025.