The Asantehene Otumfuo Osei Tutu II (L) with Dr Johnson Asiama (R)
The Governor of the Bank of Ghana (BoG), Dr Johnson Asiama, has attributed the stability of the cedi to “monetary discipline” and assured that the central bank will not be complacent in its economic management.
Speaking during a courtesy visit by the Asantehene, Otumfuo Osei Tutu II, to the central bank’s headquarters on January 7, 2026, Dr Asiama revealed that the cedi closed the year 2025 at approximately GH¢10.45 to the US dollar, ending the year as one of the best-performing currencies in Africa.
The Governor directly linked the currency’s strength to a dramatic improvement in the nation’s economic fundamentals.
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He mentioned that inflation, which is a key concern, has fallen sharply from 23.8% in December 2024 to 5.4% by December 2025, driven by sustained monetary discipline and improved food supply conditions.
“We are happy to report that the cedi ended the year in a much stronger position than many would have anticipated a year earlier.
“This outcome reflects not only improved sentiment, but also better fundamentals, stronger reserves, reduced inflation, and restored policy credibility,” he said.
However, responding to a pointed question earlier posed by the Asantehene about whether the cedi’s appreciation was sustainable, Dr Asiama noted that currency stability “must be earned continuously” and is not a permanent achievement.
“We remain careful not to confuse improvement with permanence. Exchange rate stability is not something that can be declared; it must be earned continuously.
“A currency remains strong only when the real economy beneath it is productive, competitive, and disciplined. That is why we see the cedi’s performance not as a victory lap, but as a responsibility,” Dr Asiama said.
He explained that sustainability depends on deeper national choices, including fiscal restraint, prioritising production over consumption, boosting exports, and adopting long-term economic thinking.
Dr Asiama assured that the BoG remains committed to playing its role “firmly, independently, and professionally” to ensure that economic gains become durable and inclusive.
“Ghana’s recovery must now move beyond better statistics to better livelihoods. It must translate into jobs for the youth, stronger local industry, affordable credit that does not reignite inflation, and a financial system that supports enterprise and long-term investment.
“The Bank of Ghana is fully committed to playing its role, firmly, independently, and professionally, so that the gains we are beginning to see become durable and inclusive,” he said.
ID/MA
Source:
www.ghanaweb.com
