Ato Forson Assures Cedi Will Remain Stable Against Major Currencies
Foreign exchange earnings from Ghana Gold Board to strengthen BoG reserves and support currency stability
- Ghana’s Finance Minister Ato Forson assures the Cedi will remain stable against major currencies
- $1.2 billion from gold sales has strengthened Bank of Ghana reserves to support the currency
- Government committed to lowering inflation, reducing prices, and creating jobs
Finance Minister Dr. Cassiel Ato Forson has confidently assured Parliament that the Ghanaian Cedi will maintain its stability against major foreign currencies.
He revealed that foreign exchange revenues generated by the Ghana Gold Board will be channeled to the Bank of Ghana to bolster reserves and support the national currency.
During a parliamentary debate on the Energy Sector Levy Amendment Bill, 2025, held on June 4, Dr. Forson reiterated his dedication to stabilizing the currency, lowering prices, and promoting job creation as key pillars of the government’s economic strategy.
“I want to assure Ghanaians that the Cedi will remain robust and steady. Its positive performance will continue, and the NDC government is committed to sustaining this trajectory,” he stated. Dr. Forson highlighted that in its first month of operation, the Ghana Gold Board purchased 11.4 tonnes of gold, generating $1.2 billion for the central bank. These funds will enhance Ghana’s reserves, enabling interventions to keep the Cedi strong.
He emphasized the government’s ongoing efforts, noting, “Prices have started to fall, inflation is easing, and the cost of goods is dropping daily. This positive trend will continue, and I stand firm on my promise to deliver affordable prices, a stable currency, and meaningful employment for Ghanaians.”
Additionally, Dr. Forson refuted suggestions that the currency’s stability is simply due to reduced government spending, reinforcing the proactive measures driving economic resilience.
