Finance Minister Dr. Cassiel Ato Forson has assured Parliament that the government is implementing strategic measures to stabilize the Ghanaian Cedi amid ongoing economic pressures.
Addressing lawmakers, Dr. Ato Forson acknowledged the persistent depreciation of the Cedi, which is currently trading above 15.5 cedis to the US dollar. However, he highlighted a marginal improvement compared to the previous year, citing a depreciation rate of 5.3% as of March 14, 2025, compared to 5.7% in the same period in 2024.
He attributed the Cedi’s depreciation to factors such as tight foreign exchange liquidity, increased demand from the energy sector, and commercial transactions. Despite these challenges, he emphasized that the currency had shown signs of stability since February 19, crediting targeted interventions by the Bank of Ghana for improving forex liquidity and restoring market confidence.
“Mr. Speaker, the Cedi has, however, witnessed stability since 19th February, on the back of central bank forex interventions,” Dr. Ato Forson stated.
To ensure long-term exchange rate stability, the Finance Minister announced a series of government-led initiatives designed to complement the Bank of Ghana’s monetary policies. These include bolstering foreign exchange reserves, promoting import substitution to strengthen domestic production, and managing external debt obligations more effectively.
Dr. Ato Forson reaffirmed the government’s commitment to stabilizing the economy, stressing that these policies would mitigate exchange rate volatility and enhance investor confidence in Ghana’s financial system.
“The government remains committed to ensuring macroeconomic stability through sound fiscal management and prudent monetary policies,” he concluded.
