BoG Governor Projects Sustained Cedi Stability Amid Improved Economic Outlook
The Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama has assured that the outlook of the cedi will remain favourable.
This, he explained is based on current monetary policy measures taken by the central bank to check inflation and continue to strengthen the cedi.
He therefore encouraged investors and Ghanaians that the cedi’s recent good performance is sustainable, hence no need to panic about its stability in the long term.
Dr. Asiama gave the assurance in a speech at the opening of the Monetary Policy Committee (MPC) meeting at the Bank of Ghana today, May 21, 2025.
He stressed that the Bank of Ghana will continue to take the necessary measures to sustain the cedi’s stability.
Cedi stability and reasons
Addressing members of the committee at the boardroom of the Bank of Ghana, Dr. Asiama noted that the appreciation of the cedi reflects a combination of factors, including prudent monetary policy, improved market sentiment, and external sector gains.
He pointed out that there are encouraging signs of macroeconomic progress as a result of the “Staff-Level Agreement with the IMF on the Fourth Review of the ECF Programme, and although some prior actions remain outstanding, the trajectory is clearly positive”.
“The recent S&P upgrade of Ghana’s sovereign rating from Selective Default to CCC+ further affirms this progress”, he added.
Dr. Asiama also touched on how the country’s external reserves have strengthened, including “the trade balance which has improved, as consumer and business confidence indices are rising steadily”.
