Economist and lecturer at the University of Ghana Business School, Prof. Agyapomaa Gyeke-Dako, has described the recent stability of Ghana’s exchange rate as a significant turning point for the economy.
According to her, the sharp and often unpredictable fluctuations that previously characterised the cedi’s performance have begun to ease, bringing a measure of relief to businesses and consumers alike.
Speaking during the JoyBusiness Roundtable discussion, she noted that the slowing pace of exchange rate depreciation is helping to restore confidence in the macroeconomic environment.
“We have moved from managing crisis to a point where we are managing recovery because macroeconomic stability has largely been successful but the transmission of that success to businesses and households is taking time.”
“The gamechanger has been the exchange rate and the stability has changed everything and even though the Middle East tension has affected somethings, the stable exchange rate has reduce the pain we would have felt if the exchange rate was unstable”, she said.
She explained that the exchange rate stability plays a critical role in managing inflation, reducing the cost of imports, and supporting business planning.
The economist added that while the current trend is encouraging, sustaining it will require disciplined fiscal management, improved revenue mobilisation, and continued coordination between monetary and fiscal authorities.
Prof. Gyeke-Dako’s comments come at a time when Ghana’s economy is gradually recovering from recent macroeconomic pressures, with policymakers aiming to consolidate gains and ensure long-term stability.
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Source: www.myjoyonline.com