Renowned economist, Professor John Gartchie Gatsi, has emphasized that the recent cedi gains must be supported by a renewed focus on strengthening local production to ensure long-term economic resilience.
The cedi has recorded impressive gains since the start of 2025, especially against major foreign currencies like the US dollar.
Bloomberg has so far ranked it as the world’s best-performing currency, with the exchange rate stabilizing around GH₵10.30 to the dollar.
While many Ghanaians are celebrating the currency’s strong performance, concerns remain about the sustainability of the gains—particularly in the absence of robust domestic production to reduce dependence on imports.
In an interview on Morning Starr with Naa Dedei Tettey, Prof. Gatsi stressed that Ghana must capitalize on the current economic momentum by stepping up efforts to enhance local productivity.
He cited ongoing policy commitments, such as the 24-hour economy initiative, investments in agriculture and agro-processing, targeted support for three key crops.
According to him, these are broader efforts to stabilize macroeconomic indicators and improve the competitiveness of Ghanaian businesses—as vital steps in the right direction.
Prof. Gatsi noted, “Yes, I’ve seen the commitment to do that. Commitment around the 24-hour economy, commitment around agriculture, commitment around processing, a commitment about targeting three crops, and a commitment around improving macroeconomic stability, commitment around dealing with the competitiveness of the Ghanaian businesses. They are all being dealt with simultaneously. So that should be stepped up and that will benefit us as a country.”
Source: Ghana/Starrfm.com.gh/Hamdia Mohammed
