Kofi Bentil, the Senior Vice President and Policy Analyst at IMANI Ghana, has asserted that the Ghana cedi is appreciating against the US dollar because Donald Trump’s actions are devaluing the dollar. He also cited Bawumia’s Gold Buying initiative as a factor in the gradual stabilization of the cedi.
Kofi Bentil made this comment in a post shared on his Facebook page on 8th May, 2025. He wrote:
“The cedi is appreciating because the US government is acting in ways that is devaluing the dollar. It has even been said that they want a weaker dollar. That strategy is clearly helping the Ghana Cedi, but there is more; The cedi is appreciating also because:
1. We have Gold reserves which were accumulated since the last government.
This government has also added to the gold reserves BUT a check of the numbers will reveal that most of what was purchased by this government has been sold for forex which has been pushed into the system and its shoring up the cedi. So the actions of the past and present governments are paying off.
2. This policy of gold purchase started in the last government and was pushed by DMB, and fortunately has been continued by this government under JM, and is being enhanced by the GoldBod idea. Both effforts are leading to positive results. Both governments deserve praise.
Kofi Bentil explained that, there is appreciation of the cedi There’s something about the passion of an originator which no one else can emulate. It’s therefore always good to acknowledge originators and even co-opt them in any effort. We get nothing by spurning them, and gain everything by cooping them
“I am so excited that the Cedi is getting stronger but I pray even more that this effort will Not be politicized and bastardized, but all brains and efforts from both sides of the political divide will be tapped to sustain it. Ghana will get very strong if we can do this. “
Kofi Bentil concluded that no government will develop Ghana alone. It will take all governments from both parties working in a chain or baton relay to move us forward.
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