Finance Minister Dr Cassiel Ato Forson has declared that the Ghanaian cedi is no longer depreciating, citing its recent strong performance against major foreign currencies.
Addressing Parliament during the presentation of the 2025 Mid-Year Budget on, July 24, the Minister remarked, “Cedi no apicki” — to emphasise the local currency’s stability and appreciation in recent months.
The phrase is a refrain on the streets after the cedi increased in value against major currencies from about GHC14.5 to $1 in January to the current GHC10.5 to $1.
He attributed this recovery to improved macroeconomic fundamentals, increased export inflows, and renewed investor confidence in Ghana’s economy.
“This performance reflects the positive impact of sound fiscal and monetary policies, growth in gold and cocoa exports, and steady remittance flows,” he told Parliament.
He also indicated that the cedi’s appreciation is already contributing to price stability, with marginal reductions observed in the prices of some imported goods.
The Finance Minister assured Ghanaians that government remains committed to sustaining the gains achieved so far.
“We will continue to implement prudent policies to preserve the value of our currency, reduce inflation, and ensure economic stability for all,” Dr Forson added.
He disclosed that the current government inherited a severely distressed energy sector, burdened with annual financing shortfalls exceeding $1.5 billion.
He made this known during the presentation of the 2025 Mid-Year Budget Review to Parliament on Thursday, 24 July 2025.
Dr Ato Forson described the energy sector as one that was “bleeding” upon assumption of office, citing unsustainable debts, poorly structured power purchase agreements, and inefficiencies that continue to weigh heavily on the economy.
“We inherited a bleeding energy sector with annual financing shortfalls over $1.5 billion,” he stated.
