Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has given a firm assurance to Parliament and the nation that the Ghanaian Cedi will remain stable against major international currencies.
This comes at a time when economic stability and currency performance remain a top priority for both government and citizens. Addressing Parliament during the debate on the Energy Sector Levy Amendment Bill, 2025, on Wednesday, June 4, Dr. Forson was optimistic about the current and future trajectory of the cedi.
“I want to assure the people of Ghana that the currency will remain stable. The Ghana cedi will remain strong. The Ghana cedi is doing well, and this trajectory will continue.”
Dr. Cassiel Ato Forson
A significant part of the strategy to stabilize the currency lies in the activities of the Ghana Gold Board. According to the Finance Minister, foreign exchange earnings from the Board’s gold purchases are being channeled directly to the Bank of Ghana to enhance the nation’s foreign reserves. These reserves are crucial in helping the central bank intervene in the foreign exchange market when necessary to support the local currency.
“For the first month of operation of the Ghana Gold Board, for the month of May, they were able to buy 11.4 tonnes of gold, which brought $1.2 billion that has gone to the central bank. And the central bank will use this to build enough reserves to intervene for the currency to be strong.”
Dr. Cassiel Ato Forson
This move aligns with government efforts to leverage domestic resources—particularly gold—to stabilize the economy, reduce reliance on external borrowing, and build fiscal resilience.
Cedi Stability Tied to Economic Recovery and Policy Commitment
Dr. Forson emphasized that the cedi’s performance is not by chance but a result of deliberate and structured policy interventions. He dismissed suggestions that the currency’s relative stability was merely due to reduced government spending. Instead, he attributed the progress to sound economic management and reforms under the new administration.
“We mean well, prices have fallen, inflation is coming down, we can see prices of goods coming down daily, this will continue, and so, you should be happy.”
Dr. Cassiel Ato Forson
The Minister’s confidence reflects recent macroeconomic indicators showing a steady decline in inflation and relative calm in the forex market. By curbing inflation and stabilizing the exchange rate, the government hopes to increase investor confidence, boost consumer purchasing power, and promote sustainable economic growth.
Beyond currency stability, Dr. Forson reiterated the government’s broader economic vision centered on reducing the cost of living and creating employment opportunities. He made it clear that economic growth and social well-being are at the heart of the government’s agenda. “I stand by my promise to deliver low prices, stable cedi and good jobs for the people of Ghana,” he said.
This pledge ties into the government’s ongoing reforms in key sectors, including energy, agriculture, and manufacturing, aimed at revitalizing the economy and generating jobs, especially for the youth.
The remarks by the Finance Minister came during a heated debate on the Energy Sector Levy Amendment Bill, 2025, highlighting how fiscal and monetary matters remain central to legislative discussions. While the Bill itself is focused on reforms in the energy sector, Dr. Forson’s comments demonstrate the interlinkages between energy policy, fiscal discipline, and currency management.
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