Ghana Cedi Shows Signs of Recovery, Appreciating 3.9% Against US Dollar – Mahama
John Dramani Mahama, president of Ghana has said the recent appreciation of the Ghanaian cedi against the US dollar shows a sign of economic recovery.
According to him, the cedi saw a 3.9 per cent appreciation as of the end of April 2025. This comes on the back of stronger forex inflows, improved trade balances, and growing investor confidence. Highlighted the improvement in economic activity, with the real composite index of economic activity recording an annual growth of 2.3% in March 2025.
“ The Ghanaian cedi, which depreciated by 19.2 per cent in 2024, has shown signs of recovery, appreciating by 3.9 per cent against the US dollar by the end of April 2025. This has been supported by stronger forex inflows, improved trade balances and growing investor confidence” he emphasized.
According to him, Ghana is projecting to achieve single digit inflation trajectory by middle of 2026 , this will be underpinned by tighter monetary policy and complemented by fiscal consolidation and exchange rate stability.
“Our gross international reserves have improved further from $8.98 billion in December 2024 to $10.6 billion by April 2025, this is equivalent to almost five months of import cover.” He noted.
Delivering his keynote address at the 25th edition of Ghana- EU business forum, held in Accra on May 20, 2025, he pointed out a decline in Ghana’s inflation rate from 23.8 per cent in 2024 to 21.2 per cent as of April 2025, citing its role in economic recovery.
“When this administration assumed office in early 2025, Ghana was emerging from a period of fiscal distress, high inflation and declining investor confidence. We had to take urgent steps with the presentation of a budget to Parliament that made an adjustment in the primary balance from negative 3.3 per cent GDP to positive 1.5 per cent GDP by the end of this year. These bold and targeted interventions are beginning to witness the early signs of economic recovery and early signs of momentum “ Mr. Mahama stressed.
