President John Dramani Mahama has attributed the recent appreciation of the Ghanaian Cedi to strong foreign exchange inflows and targeted policy measures aimed at stabilizing the economy.
According to the President, the improved performance of the local currency is largely due to increased gross international reserves, which have risen from $8.9 billion in December 2024 to $10.6 billion by April 2025. He stated that this increase reflects growing investor confidence and stronger external financial buffers.
Speaking at the opening of the Ghana–EU Business Forum in Accra on Tuesday, May 20, President Mahama emphasized the government’s commitment to achieving its economic growth targets for the year.
The forum, themed “Deepening Ghana-EU Cooperation on Trade and Investment in Non-Traditional Value Chains under the EU Global Gateway Strategy,” was attended by key stakeholders from Ghana and the European Union.
“The Ghanaian Cedi, which depreciated by 19.3% in 2024, has shown signs of recovery, appreciating by 3.9% against the US Dollar by the end of 2025. This has been supported by stronger forex inflows, improved trade balances and growing investor confidence. Our gross international reserves have improved further from 8.98BN dollars in December 2024 to 10.6BN dollars in April 2025. This is almost equivalent to 5 months of import cover. Fiscal consolidation is underway, we have reduced the fiscal deficit on commitment basis, from 7.5% of GDP in 2024 to 6.4% in the first half of 2025, and we are on track to meet our 2025 end year of 3.1% through expenditure rationalisation, improve domestic revenue mobilization and strong anti corruption measures. These figures, though early in the year, are clear signs of discipline and inclusive economic recovery. Our trade with the European Union remains robust and neutrally beneficial,” he stated.
President Mahama assured both local and international investors of his administration’s dedication to creating a secure and favorable environment for investment.
“I assure all potential investors that under this administration, Ghana is committed to transparent Governance, policy predictability and a reformed business environment. We are restoring confidence in our public procurement systems, enforcing contract sanctity and protecting investor rights under both domestic and international legal regimes,” he added.
