"Cedi Apicki": Ghana's Currency Soars to Stability
Accra, Ghana – 24 July, 2025 – Finance Minister Dr. Cassiel Ato Forson has proudly declared that the Ghanaian cedi is no longer depreciating, thanks to its recent strong performance against major foreign currencies. Addressing Parliament during the 2025 mid-year budget review, Dr. Forson confidently stated, "Cedi no apicki," emphasizing the local currency's stability and appreciation.
Cedi's Impressive Gains
The cedi has indeed made significant strides, strengthening from GH¢15 to the US dollar at the start of the year to approximately GH¢10.45 on the interbank market. Dr. Forson attributed this recovery to improved macroeconomic fundamentals, increased export inflows, and renewed investor confidence in Ghana's economy.
Key Factors Behind Cedi's Success
- Sound Fiscal and Monetary Policies: Dr. Forson highlighted the positive impact of prudent economic policies on the cedi's performance.
- Growth in Exports: Increased gold and cocoa exports have contributed to the cedi's stability.
- Steady Remittance Flows: Consistent remittances from abroad have also supported the cedi's appreciation.
Price Stability and Economic Benefits
The cedi's appreciation is already contributing to price stability, with marginal reductions observed in the prices of some imported goods. Dr. Forson assured Ghanaians that the government remains committed to sustaining the gains achieved so far, implementing prudent policies to preserve the value of the currency, reduce inflation, and ensure economic stability for all.
