Ghana’s local currency, the cedi, may soon face another tough season, according to a warning from the Executive Director of Global InfoAnalytics, Mr. Mussa Dankwah
Mr. Dankwah shared his views on his Facebook page on Saturday, 17th May, 2025, where he advised the Minister of Finance, Dr. Cassiel Ato Forson, to prepare for what lies ahead. He made this statement after the US stock market showed signs of strong growth. According to him, this is a signal that the cedi could lose more value against the US dollar in the coming months.
At the moment, the exchange rate shows the US dollar trading at around GH¢12.40. This is a drop from a previous rate of over GH¢17 some time ago. Many people have praised this improvement, thinking the cedi is finally becoming stronger. But Mr. Dankwah says the recent strength of the cedi might not last long.
He believes that external global factors—like the performance of the US economy and rising US stocks—have a strong effect on the cedi. If these international trends continue, the cedi may start to depreciate again, regardless of Ghana’s internal efforts like the gold-for-oil and gold reserve policies started under the previous government.
“This is a warning to Dr. Ato Forson. He must prepare. The signs are not good. Even with the gold policies, the cedi may still suffer,” Mr. Dankwah wrote.
He added that once the global market changes again, and Ghana is no longer shielded by temporary benefits, the cedi will return to what he called its “smoothness level”—a way of saying the currency will drop to its natural low point.
Ghanaians are now watching closely to see how the Finance Ministry will respond to this new warning and what steps will be taken to protect the economy.
