Finance Minister Dr. Cassiel Ato Forson has issued a stern warning to businesses and service providers who continue to price their goods in foreign currencies, particularly the U.S. dollar, insisting that such practices erode the value of the Ghana cedi and threaten the nation’s economic integrity.
Speaking at the 60th anniversary celebration of the Ghana cedi on Tuesday, October 28, Dr. Forson said the persistent use of foreign currencies in local transactions undermines confidence in the national currency.
“We must be as true in the act that seeks to undermine the value of the currency, particularly the pricing of goods and services in foreign currency, the U.S. dollar,” he stated.
He reminded citizens and businesses alike that the cedi remains Ghana’s only recognized legal tender and must be treated with dignity and pride.
“Let me use this opportunity to once again stress that as Ghanaians, the Ghana cedi remains the only legal tender. The U.S. dollar is not our currency. The cedi is our only currency,” Dr. Forson emphasized.
He cautioned that continued pricing in U.S. dollars would have damaging effects on the local economy, urging an immediate stop.
“The continuous pricing of goods and services in U.S. dollars will only hurt us. Let’s stop it, and let us stop it now,” he declared.
The ceremony, held under the theme “60 Years of the Cedi: A Symbol of Sovereignty, Stability, and Economic Resilience,” brought together key government officials, with President John Dramani Mahama serving as the Special Guest of Honour.
First introduced on July 19, 1965, the Ghana cedi marked the country’s assertion of monetary independence following colonial rule. Over the years, it has evolved through several reforms, reflecting the resilience of Ghana’s economy amid changing global and domestic conditions.
According to the Bank of Ghana, the Cedi@60 celebration offers a chance to reflect on the currency’s six-decade journey, rekindle national pride, and strengthen public confidence in the cedi as a pillar of economic stability and identity.
As part of the year-long commemoration, the central bank will roll out nationwide activities including financial literacy campaigns, a Cedi Van regional roadshow, and youth-focused art, music, and essay contests.
A major highlight will be a Currency Conference bringing together experts from global central banks, academia, and the private sector to explore Ghana’s monetary future.
Source: Starrfm.com.gh
