The Governor of the Bank of Ghana, Dr. Johnson Asiamah, has cautioned that the recent stability and improved performance of the Ghanaian cedi should not be regarded as a permanent achievement.
Speaking on Wednesday during a courtesy call on the Bank of Ghana by the Asantehene, Otumfuo Osei Tutu II, Dr. Asiamah said the cedi ended the year in a stronger position than many had expected. He referenced Forbes magazine data indicating that the currency closed 2024 at about GH¢10.67 to the US dollar, ranking it among the better-performing currencies in Africa.
The Governor attributed the gains to improved market sentiment, stronger economic fundamentals, increased reserves, lower inflation and restored policy credibility. However, he warned against complacency, stressing that currency stability is not guaranteed.
Dr. Asiamah emphasised that lasting exchange rate stability depends on sustained productivity, competitiveness and discipline within the real economy, noting that a strong currency must be continuously maintained rather than assumed to be permanent.