Copyright gbcghanaonline
By Ashiadey Dotse The Governor of the Bank of Ghana, Dr. Johnson Pundit Assiamah, has stated that Ghana’s recent economic progress is not by chance but the result of hard, sometimes unpopular, but principled decisions taken by government and the central bank to restore stability and confidence in the economy. Speaking at the official launch of Cedi@60 in Accra on Tuesday October 28, 2025, Dr. Assiamah said Ghana’s economic recovery demonstrates the country’s resilience and commitment to responsible fiscal and monetary management. He recalled the difficult period in 2022 when the cedi depreciated by more than 50 percent, becoming the world’s worst-performing currency according to Bloomberg, while inflation rose above 54 percent and food inflation hit nearly 60 percent. “Those were not just numbers they represented real hardships that affected every Ghanaian household and business,” he noted. Dr. Assiamah explained that the situation has since improved significantly due to strong policy coordination under the leadership of President John Dramani Mahama and the Vice President. “Today, headline inflation stands at 9.4 percent as of September 2025, and the cedi has appreciated by 37 percent as of mid-October, making it the best-performing currency in sub-Saharan Africa for the first eight months of this year,” he said. He added that Ghana’s international reserves now stand at about 12 billion U.S. dollars, providing a solid cushion against external shocks and boosting investor confidence in the economy. “These gains did not happen by accident. They are the outcome of tough but necessary decisions fiscal consolidation by government, tight monetary policy by the Bank of Ghana, and renewed confidence from investors and the public,” he emphasized. The Governor said the Bank of Ghana remains dedicated to ensuring price stability, preserving financial system resilience, and supporting long-term inclusive growth. “We are not yet where we want to be, but we are no longer where we were,” he remarked, calling on Ghanaians to help protect the progress made so far. Dr. Assiamah explained that the Cedi@60 celebration is not just ceremonial but a national reflection on Ghana’s economic journey and the evolution of the cedi as a symbol of independence, resilience, and innovation. The central bank’s Governor said the Bank of Ghana will embark on a nationwide campaign featuring exhibitions, public lectures, school tours, and diaspora engagements to educate citizens about the country’s monetary history from pounds to pesewas, and from coins to digital payments. He also paid tribute to Ghana’s first President, Dr. Kwame Nkrumah, and past Governors of the Bank of Ghana, whose vision and integrity laid the foundation for today’s financial stability. “As we celebrate 60 years of the cedi, let us remember that the story of our currency is the story of our nation one of perseverance, innovation, and pride,” Dr. Assiamah concluded.
