Economist and Political Risk Analyst, Dr. Theo Acheampong, has highlighted the critical importance of maintaining a stable and sustained appreciation of the Ghanaian cedi to support effective economic planning and enhance investor confidence.
His remarks follow a steady strengthening of the cedi against major international currencies—including the US dollar, euro, and British pound—a trend that has renewed optimism about Ghana’s macroeconomic prospects.
In an appearance on The Point of View with Bernard Avle on Channel One TV on May 12, Dr. Acheampong pointed out the current global price of gold as a strategic opportunity to further stabilize the local currency.
“I believe that if gold prices remain high for the remainder of the year, we will be in a much better position to lower the exchange rate for everyone,” he stated.
He emphasized that predictability in the exchange rate is essential for making sound economic decisions. Dr. Acheampong also called for consistent policy measures and deliberate economic planning to ensure that the recent gains of the cedi are preserved and extended over time.
“A sustained appreciation is what we want. Sharp dips followed by spikes are detrimental for everyone. It’s crucial to plan with the expectation that, for instance, the exchange rate will remain between GHC12 and GHC13 per dollar for the rest of the year,” he explained.
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