The Institute of Economic Affairs (IEA) has warned that the Ghanaian Cedi might also additionally face renewed depreciation through December 2025 if the authorities fails to prioritize nearby manufacturing and export-led monetary growth.
According to the IEA, cutting-edge coverage measures aimed toward stabilizing the forex might also additionally provide handiest transient alleviation except followed through huge efforts to beautify home productivity—specifically in key export-orientated sectors.
Speaking at a press briefing in Accra on Tuesday, May 27, 2025, IEA Fellow Professor Vladimir Antwi-Danso suggested that the latest appreciation of the Cedi may be short-lived.
He entreated policymakers to shift from short-time period forex interventions to long-time period techniques that improve the basics of the financial system thru accelerated industrialization, cost addition, and export competitiveness.
“Our foreign exchange appreciating, and the Cedi additionally appreciating isn't the answer, you have to do more. You have to try, and be an export financial system. That is the handiest manner you stablise your financial system. That is the handiest manner you are making the alternative forex lower.
“What we're doing is that we aren't stablising permanently. We will relapse. By December I trust that we can relapse. And that is coming from a technical factor of view and now no longer political. What I am pronouncing is that it isn't but hurray,” he stated.
Meanwhile, the Governor of the Bank of Ghana, Dr. Johnson Asiamah, has refuted claims that the Central Bank is intentionally manipulating the change price to power the latest appreciation of the Cedi.
Speaking on the Ghana CEO Summit held in Accra on Monday, May 26, 2025, Dr. Asiamah attributed the Cedi`s overall performance to sound macroeconomic basics.
“Our Cedi has preferred through 2
.1% towards the United States dollar. Let me emphasise that the Central Bank isn't the use of worldwide reserves to prop up the Cedi, nor are we engineering an unsustainable appreciation,” he said.
According to Dr. Asiamah, the Cedi`s electricity is underpinned through disciplined financial coverage, centered forex reforms, stepped forward remittance flows, and greater marketplace surveillance.
“These aren't short-time period interventions—they're deliberate, structural modifications aimed toward making sure long-time period stability,” he added.