Finance Minister Dr. Cassiel Ato Forson has touted the recent rebound of the Ghanaian cedi as a clear sign that the government’s economic recovery plan is working, declaring that the local currency is no longer on a downward spiral.
Presenting the 2025 Mid-Year Budget Review in Parliament on Thursday, July 24, Dr. Forson struck an optimistic tone, using the popular Akan expression “Cedi no apicki” — meaning “the cedi has picked up” — to signal the currency’s appreciation and newfound stability.
He highlighted that the cedi, which had hovered around GH¢15 to the US dollar earlier in the year, has now strengthened significantly to GH¢10.45 on the interbank market — a development he attributed to deliberate government policies and market confidence.
“This recovery is not accidental,” Dr. Forson explained. “It is the result of targeted interventions, improved macroeconomic indicators, a boost in exports — especially gold and cocoa — and increased investor confidence.”
The Minister further noted that the stronger cedi is beginning to ease inflationary pressure, as evidenced by modest declines in the cost of imported goods. This, he said, has brought some relief to businesses and consumers alike.
While cautioning that maintaining the currency’s momentum will require discipline, he assured Parliament that government is committed to ensuring lasting stability through prudent fiscal management and sustained reforms.
“The days of freefall are behind us,” Dr. Forson declared. “We are firmly on the path to stability, and the performance of the cedi is proof that confidence is returning to Ghana’s economy.”
His remarks came as part of a broader address outlining the Mahama administration’s economic performance since taking office and its vision for continued recovery in the second half of the year.
