Finance Minister promises strong cedi, low prices
By Praisebell Rosemond Larbi
Finance Minister Dr. Cassiel Ato Forson has assured Ghanaians that the Ghanaian cedi will remain stable against major international currencies, bolstered by improved foreign exchange inflows and deliberate government policy measures.
Addressing Parliament during the debate on the Energy Sector Levy (Amendment) Bill, 2025, on Wednesday, June 4, Dr. Forson stated that proceeds from gold purchases by the Ghana Gold Board will now be directed to the Bank of Ghana (BoG) to help build up foreign reserves and support the local currency.
“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. Mr. Speaker, I want to assure members of this House that the NDC will find ways to stabilize the cedi,” the minister told Parliament.
According to him, in its first month of operations in May, the Ghana Gold Board was able to purchase 11.4 tonnes of gold, generating $1.2 billion in foreign exchange earnings. These funds, he revealed, have been transferred to the central bank to strengthen reserves.
“The central bank will use this to build enough reserves to intervene so that the currency remains strong. We mean well. Prices have fallen, inflation is coming down, and we are witnessing a consistent reduction in the cost of goods and services. This will continue, so you should be happy,” Dr. Forson stated.
The minister further reaffirmed his commitment to delivering a stable cedi, reducing inflation, and promoting job creation under the current administration’s economic agenda. “I stand by my promise to deliver low prices, a stable cedi, and good jobs for the people of Ghana,” he said.
Dr. Forson also dismissed suggestions that the apparent stability of the exchange rate is a result of government inertia or delayed spending. He argued that the gains being witnessed are based on real economic activity, driven by deliberate fiscal discipline and improved foreign exchange management.
