Cedi’s Appreciation Not a ‘Nine-Day Wonder’ —Finance Minister

Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has assured stakeholders that the recent appreciation of the Ghanaian cedi is not a fleeting development but the result of deliberate and strategic economic management.

Speaking during a meeting with the leadership of the Food and Beverage Association of Ghana (FABAG), Dr. Forson reiterated the government’s commitment to maintaining the cedi’s stability and strength.

“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 stated.

Dr. Forson explained that the positive trend is underpinned by sound economic planning and strategic interventions. “The stability and appreciation you are witnessing is not a knee-jerk reaction; it is the product of careful, well-thought-out planning,” he noted.

In recent weeks, the cedi has recorded significant gains against major trading currencies. The interbank rate currently stands at GH¢13.29 to the US dollar, a notable improvement from over GH¢16 earlier this year.

The Finance Minister reminded the gathering that upon assuming office, he set out to stabilize the local currency, reduce inflation, and create jobs — pledging to remain steadfast in achieving these goals.

“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,” he emphasized.

Dr. Forson’s remarks come amid broader government efforts to restore macroeconomic stability and boost investor confidence.

Ghana recently secured a staff-level agreement with the International Monetary Fund (IMF) on the fourth review of its IMF-supported programme, which is expected to result in the disbursement of approximately $370 million to support the country’s economic recovery agenda.