Dr. Johnson Pandit Kwasi Asiama, the Governor of the Bank of Ghana, has assured Ghanaians that the appreciation of the Ghana cedi is sustainable.
He says the Bank of Ghana is not using international reserves to keep the cedi rising, reemphasising that the over 24 per cent appreciation has been occasioned by pragmatic measures.
Speaking at the Ghana CEO Summit held in Accra on Monday, May 26, 2025, the Governor refuted claims that the Central Bank is deliberately manipulating the exchange rate to drive the recent appreciation of the local currency.
The local currency has recorded significant gains in recent weeks, sparking speculation that the Central Bank may be employing artificial measures to influence its value.
But Dr. Asiama says the progress has come as a result of the policies his outfit has adopted to ensure the cedi remains resilient against the dollar and other major foreign trading currencies.
“Our Cedi has appreciated by 24.1% against the US dollar. Let me emphasise that the Central Bank is not using international reserves to prop up the Cedi, nor are we engineering an unsustainable appreciation,” Dr. Asiamah noted.
Disciplinary monetary policy, according to Dr. Asiama, is what has contributed to the cedi’s gain, adding that improved remittance flows and enhanced market surveillance have all contributed to the feat.
He noted that these are not temporary interventions but a planned structural approach meant to be sustained in the long term.
“These are not short-term interventions—they are deliberate, structural changes aimed at ensuring long-term stability,” he added.
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