Renowned economist and Dean of the University of Cape Coast Business School, Professor John Gartchie Gatsi, has dismissed concerns that the recent appreciation of the Ghanaian cedi is short-lived, insisting it is underpinned by deliberate and sustained policy measures.
Since the start of 2025, the cedi has made notable gains against major foreign currencies, particularly the US dollar. As of April, Bloomberg ranked the cedi as the world’s best-performing currency, with the exchange rate hovering around GH₵10.30 to the dollar.
Despite this remarkable performance, skepticism remains among sections of the public, with many questioning the sustainability of the currency’s upward trend.
However, speaking on Morning Starr with Naa Dedei Tettey, Prof. Gatsi was confident that the cedi’s appreciation is no fluke.
He emphasized that a stable exchange rate is crucial for national economic planning across all sectors — from government to businesses and individuals.
According to him, maintaining this stability is in the broader interest of the economy.
Prof. Gatsi also called on Ghanaians to continue demonstrating confidence in the local currency.
He added that the confidence being built around the cedi would have long-term benefits, including further reductions in inflation and interest rates.
He said, “No, as explained by the governor, it’s not a nine day wonder. It’s a deliberate, deliberate deployment of policy framework to anchor the strength of the city and to bring the city on the path of stability to provide a planning horizon for businesses, for individuals and for the government. And so it is the interest of the economy to have a stable exchange rate and to have a stable macroeconomic indicators, because that is good for every sector of the economy. So that is what the focus is on.”
“So people are encouraged to continue to behave the way they are behaving, trust in the strength of the currency, love the currency, make use of the currency, do not play the currency with other currency. If you only have a necessary demand for the currency, that is for those who need it to engage in what is lawful transactions. So the confidence that is being built will continue, will be consolidated to have a full reflection in the effect of prices, effect on the downward trend in inflation, and that will also bring about a drive down in interest rate, which we have seen already, and that will be consolidated to have much more broader effect in the economy.”
Source: Ghana/Starrfm.com.gh/Hamdia Mohammed

