Finance Minister confirms Cedi’s recent gains are long-term

Dr Cassiel Ato Forson, the Minister for Finance, has given assurance to the public that the recent appreciation of the cedi is not a short-term event but the result of strategic economic leadership.

In his speech during a meeting with the leadership of the Food and Beverage Association of Ghana (FABAG), Dr Forson reiterated the government’s dedication to maintaining currency stability.

Dr Cassiel Ato Forson said that “I want to use this opportunity to assure all of you that what you are seeing — the appreciation of the cedi — will not only continue but will be sustained.”

He explained that the cedi stabilization is because of strategic economic decision-making and strategic actions, not by chance.

He highlighted that “The stability and appreciation you are witnessing is not a knee-jerk reaction; it is the product of careful, well-thought-out planning.”

The Ghanaian cedi has seen notable gains in recent weeks, improving markedly against major foreign currencies. The interbank rate currently stands at around GH¢13.29 to the US dollar — a significant improvement from levels above GH¢16 earlier this year.

Moreover, the Ghana cedi was named the world’s best-performing currency this month, after the significant appreciation of 16 per cent against the US dollar since the start of April 2025 per Bloomberg. 

The currency’s strength has alleviated inflation concerns, contributing to Ghana’s lowest inflation rate in eight months. As of today, the cedi is trading at GH₵13.4 against the dollar.

Government Statistician Alhassan Iddrisu announced in Accra on Wednesday that the consumer price inflation decreased to 21.2 per cent in April, all the way  from 22.4 per cent in March.  Monthly price increases slowed to 0.8 per cent, fueled primarily by the falling import costs due to the cedi’s strength.

Non-food inflation fell to 17.9 per cent from 18.7 per cent, while food inflation also eased, decreasing to 25 per cent from 26.5 per cent. “A rally in the cedi reduced the cost of imports,” Iddrisu confirmed, due to the currency’s appreciation contributing to recent decline in inflation.

Bloomberg data showed that from the start of  April, the cedi has outperformed all global currencies in terms of gains against the US dollar, strengthening consumer morale  and relieving pressure on the cost of imported goods.

Dr Cassiel Ato Forson informed stakeholders that strengthening the local currency, reducing inflation, and creating jobs were among his immediate priorities upon taking office. He reaffirmed the dedication of the government to delivering on these objectives.

Dr Cassiel Ato Forson added that “This is not a nine-day wonder. There will be stability, the cedi will be stronger, and we expect you to support these efforts so that Ghanaians can feel the impact.”

READ: Ghana’s Cedi makes history: Ranked world’s top performing currency by Bloomberg