In a recent interview, broadcaster and economist Randy Abbey disclosed a lighthearted yet revealing exchange he had with Finance Minister Dr. Cassiel Ato Forson regarding the Ghanaian cedi’s exchange rate trajectory.
“In a conversation I had with the Finance Minister, I mentioned I had projected an exchange rate of 15.5 to the dollar,” Abbey said. “He replied, ‘I was going to bring it to 10, but because of you, I decided to stay at 12.’”
Abbey went on to explain the implications of the cedi’s unexpected strength, stating that it had already disrupted his economic calculations. “With the cedi’s performance, it has already shaved off GH¢3.50 per dollar from my projections. If I’m planning a transaction worth $4 billion, that’s over GH¢12 billion affected,” he explained.
He further noted that the currency had now appreciated beyond the GH¢12 mark. “I reminded him that he said he would keep it at 12, but it has dropped even further. He just said, ‘I’m sorry, my brother, you’ll have to work with 10.’”
Despite the challenges this poses for financial projections, Abbey maintained that such fluctuations are part of economic dynamics and expressed no resentment over the development.
The video of the interview was shared by media outlet Accra 360 on their official Instagram page, sparking significant public engagement.
Watch the full video here: Instagram Link
