The Finance Minister, Dr. Cassiel Ato Forson, has asserted that the recent appreciation of the cedi is a result of sound and strategic economic planning, rather than a temporary increase.
During a meeting with leaders of the Food and Beverage Association of Ghana (FABAG), Dr. Forson assured stakeholders that the cedi’s steady rise is due to deliberate policy decisions made by the government. “What you are seeing, the appreciation of the cedi will not only continue but will be sustained,” he stated confidently.
In recent weeks, the cedi has strengthened against major foreign currencies, with the interbank exchange rate now at GH¢13.29 to the US dollar, a notable improvement from over GH¢16 earlier this year.
Dr. Forson highlighted that stabilizing the cedi, reducing inflation, and creating jobs have been his primary objectives since taking office. He urged businesses and citizens to support the government’s initiatives. “This is not a nine-day wonder,” he emphasized. “There will be stability, the cedi will be stronger, and we expect you to support these efforts so that Ghanaians can feel the impact.”
His remarks come as Ghana collaborates with the International Monetary Fund (IMF) to enhance its economy. A recent agreement with the IMF is expected to bring in approximately $370 million to bolster the country’s recovery plans.
Dr. Forson reiterated the government’s commitment to ensuring the cedi remains robust and the economy stays on a positive trajectory.
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