“Cedi no Apicki”, Says Finance Minister Over Reversal of Three-Year Cedi Depreciation
Finance Minister, Dr Cassiel Ato Forson, has announced that the local currency has sharply reversed its multi-year depreciation trend, emerging as the best-performing currency globally in the first half of 2025, according to Bloomberg.
Presenting the 2025 Mid-Year Budget Review in Parliament on Thursday, Dr Forson said the Ghana cedi had appreciated by over 42.6% against the US dollar, with similar gains recorded against the British pound and the euro—marking a dramatic turnaround from losses sustained between 2022 and 2024.
“We have almost reversed the depreciation of the cedi against major currencies in the world witnessed in 2022, 2023 and 2024,” Dr Forson told lawmakers.
“Ghana cedi no apicki,” he added, borrowing a popular local expression to signal the currency’s strong rebound.
The cedi’s resurgence comes on the back of the Mahama administration’s fiscal tightening measures, external support from the IMF, and improved market sentiment following policy clarity and macroeconomic stabilisation efforts.
The cedi appreciation reflects both improved fundamentals and constrained demand for foreign exchange, amid enhanced confidence in the central government’s ability to sustain the momentum of economic recovery.
