The National Communications Officer of the National Democratic Congress (NDC), Sammy Gyamfi, has credited the recent appreciation of the Ghana Cedi, 16.7% from January 2025 to date to deliberate and strategic policy interventions implemented by the NDC/Mahama administration.
In a facebook post, Mr. Gyamfi outlined three major interventions that have contributed to the cedi’s strength: a firm monetary policy by the Bank of Ghana, improved fiscal discipline by the Ministry of Finance, and a surge in foreign exchange inflows driven by exports, gold sales, and remittances.
He pointed specifically to the Bank of Ghana’s decision in March 2025 to raise the Monetary Policy Rate from 27% to 28%, which helped contain inflation and stabilize the financial markets. The Bank’s aggressive liquidity sterilization efforts through Open Market Operations also played a vital role in tightening the money supply and boosting investor confidence.
Beyond the central bank’s actions, Gyamfi lauded the Ministry of Finance’s commitment to fiscal consolidation, noting that renewed confidence in Ghana’s economic direction is a reflection of “prudent public financial management.”
GoldBod and the Precious Minerals Marketing Company (PMMC), according to Gyamfi, have significantly boosted Ghana’s foreign reserves through record-breaking gold purchases and exports.
Combined with healthy inflows from cocoa and diaspora remittances, these measures have fortified the cedi against external shocks.
“The positive impact of these policies has been further enhanced by a global environment where the US dollar is weakening, giving emerging market currencies like the cedi room to breathe,” he added.
While critics have often doubted the effectiveness of Ghana’s economic management, Gyamfi believes the cedi’s recent performance is “proof that deliberate leadership backed by sound economic strategy can turn things around.”
