Controversial political commentator Kevin Taylor has weighed in on the Ghana Cedi’s recent sharp appreciation against the US dollar, expressing concern over the potential consequences for Ghanaians living abroad.
During his recent broadcast, Taylor noted that although the Cedi’s performance may look promising on paper, the speed of the currency’s strengthening is raising red flags. H
e highlighted that just a few months ago, around the time of the 2024 general elections, the exchange rate stood at GHS17 to one US dollar. Currently, that figure has dropped significantly to around GHS13.20 per dollar.
Taylor, known for his blunt takes on political and economic matters, acknowledged that Finance Minister Dr. Cassiel Ato Forson may not be fond of him due to past criticisms. Nevertheless, he credited the minister for doing his job well. Despite this, he appealed for caution, urging the finance team to control the pace of the Cedi’s appreciation.
He humorously mentioned that the mobile app he uses to transfer money to Ghana is “confused” due to the rapid and constant changes in the exchange rate. Beyond the humor, his concern is serious—he warned that if the Cedi strengthens too quickly, it could negatively impact Ghanaians abroad who send remittances home.
According to him, a stronger Cedi means they receive less value for every dollar sent, which could discourage them from continuing to support families in Ghana.
Taylor suggested that authorities keep the rate stable around GHS13.20 for now and wait until around August before considering any further appreciation. He believes a gradual strengthening would be better for the economy and help maintain the vital flow of remittances from the diaspora.
His comments have added another layer to the ongoing conversation about Ghana’s economic outlook, as citizens at home and abroad watch the Cedi’s performance closely.
