Ato Forson said this during the presentation of the 2025 Mid-Year Budget Review
The Minister of Finance, Dr Cassiel Ato Forson, has lauded the recent performance of the Ghana cedi, describing it as one of the most significant currency recoveries in the country’s history.
Delivering the 2025 Mid-Year Budget Review in Parliament on Thursday, July 24, the minister announced that the cedi had recorded major gains against the US dollar, the British pound, and the euro within the first six months of the year.
“Mr speaker the Ghana cedi used to trade against the US dollar at 17, as at yesterday trading at 10.4. Mr Speaker, similarly the Ghana cedi which was once trading at 21 cedis to the British pound was trading at 14.1 as at yesterday 23rd July 2025,” he said.
According to the minister, the cedi appreciated by 46% against the US dollar, 30.3% against the British pound, and 25.6% against the euro as at the end of June 2025.
He emphasised that this marks a sharp reversal from the depreciation trends of the past three years.
“This level of appreciation has never happened in the history of our country. Ghana cedi no apicki,” he stated.
Dr Cassiel Ato Forson attributed the gains to strong fiscal consolidation, tight monetary policy, improved external sector performance, renewed investor confidence, favourable market sentiment, and the successful completion of the fourth review of Ghana’s programme with the International Monetary Fund.
The 2025 Mid-Year Budget Review is in line with Article 179 of the 1992 Constitution and Section 28 of the Public Financial Management Act, 2016 (Act 921), which requires the Minister of Finance to provide Parliament with a review of the national budget and economic performance.
AS/AE
