The Minister for Finance, Dr. Cassiel Ato Forson, has assured stakeholders that the recent rise in the value of the Ghanaian cedi is a result of intentional economic management that will be sustained.
“I want to use this opportunity to assure all of you that what you are seeing in the appreciation of the cedi will not only continue but will be sustained,” he reiterated.
He said this during a meeting with the leadership of the Food and Beverage Association of Ghana (FABAG) last Friday in Accra.
Dr. Forson reiterated the government’s commitment to maintaining the cedi’s stability and strength.
He explained that the cedi’s appreciation was based on thorough economic planning and strategic interventions, stating that the interbank rate has improved to GH¢13.29 against the US dollar, compared to over GH¢16 earlier this year.
The Minister said that in assuming office, he set out to stabilize the local currency, reduce inflation, and create jobs.
“This is not a nine-day wonder. There will be stability, the cedi will be stronger, and we expect you to support these efforts so that Ghanaians can feel the impact,” he emphasized.
His comments coincide with Ghana’s recent staff-level agreement with the International Monetary Fund (IMF), which is set to bring in about $370 million to aid the country’s economic recovery.
Ghana recently secured a staff-level agreement with the International Monetary Fund (IMF) on the fourth review of its IMF-supported programme, which is expected to result in the disbursement of approximately $370 million to support the country’s economic recovery agenda.
