The Ghanaian cedi continues to strengthen, leading to lower inflation and improving the country's economic situation. President John Dramani Mahama emphasizes the importance of sustainable economic growth.
Reasons for Cedi's Rise
The Ghanaian cedi has appreciated by 42% against the US dollar in 2025, making it the world's best-performing currency. This rally is linked to the government's economic strategy under President Mahama, which includes programs aimed at achieving real growth and social equity. Key points of the strategy include completing the IMF program, improving financial management, and supporting exports.
Monetary Policy and Inflation Management
The Bank of Ghana, by raising the key interest rate to 28%, has taken responsibility for managing inflation, which was 18.4% in May. The Bank also absorbed liquidity, contributing to economic stability. These measures helped reduce inflation to its lowest levels in three years.
Everyday Life Impact on Ghanaians
The appreciation of the cedi is significantly improving the everyday lives of citizens. Falling prices for imported goods and resources have saved money for many. For instance, the price of a block molding machine fell by 48%, and fuel prices dropped by 15%. This has also reflected in the lower prices of food and construction materials.
The sustainable growth of the Ghanaian cedi is accompanied by positive changes in the economy; however, future successes will depend on the government's ability to maintain public trust and actively implement reforms.
