Finance Minister Dr. Cassiel Ato Forson has commended the impressive performance of the Ghana cedi against major international currencies, characterizing it as a significant turning point in the nation’s economic direction.
Speaking during the inauguration of the members of the Governing Board of the Ghana Gold Board (GoldBod) in Accra on Monday, May 19, Dr. Forson revealed that as of May 13, 2025, the cedi had appreciated by 16.7% against the US dollar, indicating a remarkable recovery compared to the same timeframe last year.
He stated, ‘As of May 13, 2025, the Ghana cedi has established itself as the leading performer among global currencies, achieving an impressive 16.7% appreciation against the US dollar year-to-date.’
He noted that this represents a significant turnaround from the 13.4% depreciation recorded during the same period in 2024, with the Cedi being recognized as the best-performing currency in April 2025.
Dr. Forson attributed this improvement to the collaborative policy initiatives between the Bank of Ghana and the Finance Ministry.
‘This surge is a result of a strong policy framework, supported by aligned monetary and fiscal strategies, along with a favorable global environment.
The central bank, in close partnership with the Ministry of Finance, has implemented a rigorous monetary policy, along with proactive liquidity management,’ he elaborated.
He also expressed optimism that the efforts of GoldBod would contribute to the ongoing stability and enhancement of the cedi.
‘The initiatives of GoldBod are poised to further bolster this performance. Indeed, it will transform the dynamics of both the Ghana cedi and the country’s foreign exchange reserves in the future,’ Dr. Forson concluded.
