Ghana’s Finance Minister, Dr. Ato Forson, has spoken out on the reasons behind the recent strong performance of the Ghana cedi. Many people believe that the dollar is simply getting weaker, but according to the Minister, the truth goes deeper than that.
In a Facebook post, Dr. Forson said the appreciation of the cedi is not just luck or a passing phase. He explained that it is the result of good planning and proper management of the economy. “This stability is here to stay,” he wrote, adding that the Ministry of Finance is focused on turning these gains into real benefits for the ordinary Ghanaian.
Dr. Forson shared that he met with the leadership of the Food and Beverage Association of Ghana (FABAG). During the meeting, they talked about food prices and the economy. He encouraged FABAG and other trader groups like GUTA to reduce their prices so that the public can feel some relief.
He noted that food prices had been too high for too long and now that the cedi is doing well, prices should start falling. The FABAG president, Mr. John Awuni, even suggested launching a national campaign to reduce prices across markets.
Dr. Forson also said the government is fixing problems like high port charges, taxes, and smuggling, which all contribute to high prices in the market.
In short, the Minister made it clear that the cedi’s strength is not just because the dollar is weak, but because of careful planning. He is calling on traders to help pass on the benefits to every Ghanaian.
