Finance Minister Ato Forson Celebrates Ghana's Currency Stability "Ghanafoɔ, Cedi Nu Apicki"
- Finance Minister Ato Forson has praised the significant progress in stabilising Ghana's currency
- He noted that the President Mahama-led administration has reversed the cedi's depreciation, making it one of the best-performing currencies globally
- Dr. Forson highlighted the role of the Ghana Gold Board in the cedi's stability, with a 16.7% year-to-date gain as of May 2025
Finance Minister Dr. Cassiel Ato Forson has highlighted the significant progress made in stabilising Ghana's currency.
According to Dr. Forson, the cedi has remained relatively stable against the major international trading currencies.
Source: Facebook
Speaking on the floor of Parliament, the Finance Minister stated that the new administration, led by President John Mahama, has reversed the cedi's depreciation, making it one of the best performing currencies in the world.
"So far, we have almost reversed all the cedi depreciation in 2022, 2023, and 2024. This level of appreciation has never happened in the history of our country. Mr. Speaker, fellow citizens, Ghanafoɔ (fellow Ghanaians), Ghana Cedi nu Apicki (the cedi is stable)," he said.
Dr. Forson made these remarks while presenting the 2025 Mid-Year Budget Review on Thursday, July 24, 2025.
As of March 14, 2025, the cedi was trading at GH₵15.53 per dollar, reflecting a 5.3% depreciation, which was an improvement over the 5.7% depreciation recorded during the same period last year.
The stability of the cedi has been attributed to the Finance Minister and Bank of Ghana's prudent economic management policies such as tight liquidity policies, the establishment of the Ghana Gold Board, fiscal consolidation, among others.
Ghana Gold Board's role in cedi stability
The Ghana Gold Board, created by President Mahama under the Gold Board Act, 2025 (Act 1140), has played a crucial role in the cedi's recent stability.
Also known as the GoldBod, the Ghana Gold Board is the sole authority with exclusive rights to buy, sell, weigh, grade, assay, value, and export gold and other precious minerals in Ghana.
Dr. Forson noted that the GoldBod's strategic interventions have contributed significantly to the cedi's appreciation, recording a 16.7 per cent year-to-date gain as of May 13, 2025, making it one of the strongest currencies globally.
Watch the video of Finance Minister, Dr Cassiel Ato Forson delivering the mid-year budget review in the Parliament of Ghana.
Minority walkout of Ato Forson’s budget presentation
In a related development, the Minority in Parliament staged a walkout during the 2025 mid-year budget review to protest the election violence that occurred during the Ablekuma North election rerun.
Minority Chief Whip Frank Annoh-Dompreh tried to deliver a brief statement on the violence but was assured that he would be given time later to speak.
Speaking on behalf of the caucus, Annoh-Dompreh explained that the New Patriotic Party could not, in good conscience, take part in the budget proceedings while staying silent on the election violence.
Source: UGC
Police arrest suspects in Ablekuma North violence
Meanwhile, YEN.com.gh reported that Police arrested two individuals in connection with the Ablekuma North Constituency election violence.
The arrests marked the first since the controversial election held on July 11, 2025.
During the election, National Democratic Congress candidate Ewurama Aubynn secured a narrow victory.
Source: YEN.com.gh
