By: Ashiadey Dotse
Ghana’s Finance Minister, Dr. Cassiel Ato Baah Forson, has given strong assurance that the Ghanaian Cedi will remain stable against major foreign currencies.
Speaking in Parliament during the debate on the Energy Sector Levy Amendment Bill on Wednesday, Dr. Forson said the government is taking key steps to support the Cedi. One major move is that the foreign currency earned from gold sales through the Ghana Gold Board will now go directly to the Bank of Ghana to build up reserves.
“For the first month alone, the Gold Board bought 11.4 tonnes of gold worth $1.2 billion. This money is already with the central bank and will help make the Cedi stronger,” Dr. Forson explained.
He added that the government is focused on keeping the Cedi strong, lowering the cost of living, and creating jobs.
“We want Ghanaians to be happy. Prices of goods are coming down. Inflation is falling. The Ghana Cedi is doing well, and this trend will continue,” he told Parliament.
Dr. Forson also rejected claims that the stable exchange rate is only because the government is not spending money.
The Finance Minister promised that the government, under the National Democratic Congress (NDC), will continue to work hard to keep the economy steady and improve the lives of citizens.
