Ato Forson: Cedi remains stable, government rolling out measures to strengthen currency

Finance Minister Dr Cassiel Ato Forson has assured Ghanaians that the cedi has remained stable against the US dollar since February 19, 2025, on the interbank forex market. 

Addressing Parliament on Tuesday, March 19, he noted that as of March 14, the cedi was trading at GH₵15.53 per dollar, reflecting a 5.3 per cent depreciation—an improvement compared to the 5.7 per cent depreciation recorded during the same period last year.

Responding to a question from Mavis Nkansah Boadu, MP for Afigya Sekyere East, on the government’s measures to curb the cedi’s decline, Dr Forson attributed the relative stability to tight liquidity policies implemented by the Bank of Ghana.

He stressed that these measures have been effective in preventing further volatility on the forex market.

The Finance Minister outlined key strategies aimed at sustaining the cedi’s resilience. 

These include the establishment of the Ghana Gold Board to enhance foreign currency reserves, bolstering forex market interventions, and prioritising expenditure cuts to ease pressure on the currency.

Dr Forson further revealed that the government’s "24-hour economy" initiative, set to be rolled out in the coming months, will include an import substitution policy. 

This, he said, is designed to reduce the country’s reliance on foreign goods, strengthen the local economy, and ultimately support the cedi’s stability.