Cedi@60: Vice President Calls for Sustained Fiscal Discipline, Commends BoG for Restoring Confidence in the Cedi
Vice President Professor Jane Naana Opoku-Agyemang has underscored the need for sustained fiscal discipline and responsible governance to safeguard the gains made in stabilizing the Ghanaian cedi.
Speaking at the launch of the Cedi@60 celebration in Accra, the Vice President stated that Ghana has “learnt painful lessons from fiscal indiscipline and over-borrowing,” citing the Domestic Debt Exchange Programme (DDEP) as a clear example of the consequences of past excesses.
“The DDEP was necessary given the country’s unsustainable debt levels which locked us out of the international capital market,” she noted, adding that the painful adjustment has since paved the way for economic recovery.
Quoting Bloomberg data, Prof. Opoku-Agyemang highlighted that the cedi, which was the world’s worst-performing currency in 2022, has now become the best-performing currency in 2025, while inflation has dropped from 54.1% to 9.4%. She further revealed that Ghana’s foreign reserves have exceeded $12 billion, signaling renewed investor confidence.
However, the Vice President cautioned that “trust in the cedi will not sustain itself,” stressing that the country must “protect what we have rebuilt through sound decisions, transparent actions, and accountable policies.”
She called on government to “lead by example and permit real fiscal discipline,” urging that “every loan be tied to a return and every cedi spent to a corresponding value.”
Commending the Bank of Ghana for its tight monetary policy and effective regulation of virtual asset service providers, she encouraged closer collaboration with banks and businesses to enhance the use of cedi accounts domestically and internationally.
“The Bank of Ghana must remain a steward of stability,” she asserted, reiterating the need to uphold the cedi’s legal tender status and discourage dollarisation in domestic transactions.
Prof. Opoku-Agyemang also emphasized the importance of civic education and public awareness in sustaining confidence in the national currency, adding that “the cedi is as strong as the institutions and people who protect it.”
She lauded the BoG’s efforts in developing the e-cedi, describing it as a step toward modernizing Ghana’s payment systems and ensuring the cedi’s relevance in a digital economy.
“As we embrace financial innovation, we must equally adopt digital inclusion. The benefits of digital finance must reach all Ghanaians,” she added.
The Vice President concluded by urging all stakeholders — government, Parliament, the private sector, academia, and the media — to uphold fiscal responsibility and national pride as Ghana marks 60 years of its currency.
