Analyst says cedi gains show economic recovery
Financial consultant Dr. Kenneth Kwadwo Obeng has described Ghana’s recent cedi appreciation as a recovery, reflecting a return to historical stability rather than a temporary surge.
Speaking on Zed FM’s The FOCUS on May 24, 2025, Dr. Obeng emphasized that the cedi’s performance signals a healthy adjustment in the currency market.
“The appreciation in the cedi is something we have all expected,” he said, highlighting the role exchange rates played during recent elections and the public’s growing awareness of currency fluctuations.
Dr. Obeng pointed out that in late 2024, the cedi was trading between 16 and 17 cedis to the US dollar, a level he described as “really suffocating” the economy. While some benefited from the high rates, he stressed that the current appreciation is a necessary and prudent move towards economic balance.
“I don’t really see this as just an appreciation; I call it a recovery,” he explained, referring to the cedi’s past stability during redenomination when one cedi equaled one dollar.
The cedi’s strengthening has been supported by key government officials, including Bank of Ghana Governor Dr. Johnson Asiama and Finance Minister Dr. Cassiel Ato Forson, who attribute it to fiscal discipline and sound economic policies. As of May 23, 2025, the cedi was trading at around GHS 10.83 to the US dollar, marking a significant improvement and signaling positive momentum in Ghana’s economic recovery.
