The Finance Minister, Dr. Cassiel Ato Forson, has assured Parliament that the Ghanaian Cedi will maintain its stability against major foreign currencies.
He indicated that the foreign exchange revenues generated by the Ghana Gold Board will be allocated to the Bank of Ghana (BoG) to bolster reserves and support the currency.
Dr. Forson reiterated his dedication to ensuring currency stability, lowering prices, and generating employment as part of the government’s economic strategy.
During the discussion on the Energy Sector Levy Amendment Bill, 2025, in Parliament on Wednesday, June 4, Ato Forson stated, “I want to reassure the citizens of Ghana that the currency will remain stable. The Ghana cedi will remain robust. The Ghana cedi is performing well, and this positive trend will persist. Mr. Speaker, I want to assure the members of this House that the NDC will explore methods to stabilize the cedi.
“For the initial month of operation of the Ghana Gold Board, specifically in May, they successfully purchased 11.4 tonnes of gold, which generated $1.2 billion that has been directed to the central bank. The central bank will utilize these funds to establish sufficient reserves to intervene and ensure the currency remains strong. We have good intentions; prices have decreased, inflation is declining, and we are witnessing daily reductions in the prices of goods. This trend will continue, and therefore, you should feel optimistic. I stand by my commitment to provide low prices, a stable cedi, and quality jobs for the people of Ghana.”
Dr. Forson also refuted assertions that the stability of the exchange rate is a result of the government refraining from spending.
