Ato Forson Hails Robust Performance of the Cedi Under Mahama: “Remarkable Turnaround”

• Finance Minister Dr Cassiel Ato Forson has touted the strong performance of the Ghana Cedi in 2025
• The cedi had appreciated by 16.7% against the US dollar year-to-date, reversing a 13.4% depreciation
• The minister said Ghana’s foreign exchange inflows from gold, cocoa, and remittances have helped the cedi strengthen

Finance Minister Dr Cassiel Ato Forson has hailed the strong performance of the Ghana Cedi, calling it a remarkable turnaround.

On May 13, 2025, Forson noted that the cedi had appreciated by 16.7% against the US dollar year-to-date, reversing a 13.4% depreciation over the same period in 2024.

“The cedi has solidified its position as the standout performer among global currencies."

The Ghana cedi has been described as the best-performing currency in recent times.

Bloomberg, for example, named the cedi the world’s best-performing currency earlier in May. This was after the cedi appreciated nearly 16% against the US dollar.

During the inauguration of the Ghana Gold Board's board, Forson attributed the surge to a carefully coordinated policy framework.

“This rally stems from a robust policy framework, underpinned by synchronised monetary and fiscal measures, as well as a favourable global context."

He noted that stringent monetary policy by the Bank of Ghana, aggressive liquidity sterilisation, and prudent public finance management had worked in tandem to achieve this outcome.

In addition to sound policy, Ghana’s foreign exchange inflows from gold, cocoa, and remittances played a vital role.

According to the Minister, the softening US dollar amid global uncertainties also contributed to the local currency’s appreciation.

“Our foreign exchange reserves at the Bank of Ghana reached a record high in April 2025, surpassing targets set under the IMF-supported programme ahead of schedule."

Praise for the GoldBod over cedi strength

Forson highlighted the role of the Goldbod initiative, saying it has strengthened the Cedi.

"It will change how both the Ghana cedi and Ghana’s foreign exchange accumulation will behave in the future.”

Traders to start reducing prices in 2 months

Trader groups have said prices of goods will see reductions in the next two months as the cedi continues to strengthen.

The Ghana Union of Traders Association (GUTA) and the Association of Ghana Industries (AGI) met with the government over matters relating to forex and pricing on May 14.

The cedi has been tagged the world’s best-performing currency after it appreciated by nearly 16% against the dollar recently.

Although prices of goods remain relatively unchanged, the Ghana Union of Traders Association (GUTA) and the Association of Ghana Industries (AGI) explained that there is a natural lag between changes in the exchange rate and price adjustments on the market due to older stock acquired at previous, higher rates.

Twene Jonas hails Forson over Cedi strength

Earlier, YEN.com.gh reported that US-based social commentator, Twene Jonas, praised Forson over the cedi's performance against the dollar and major global currencies.

According to Twene Jonas, the Cedi's appreciation against the dollar was due to Ato Forson's stellar economic management.

In a video shared on TikTok, the outspoken US-based Ghanaian described Ato Forson as the best Finance Minister in the world.

Proofreading by Samuel Gitonga, copy editor at YEN.com.gh.

Source: YEN.com.gh