The Governor of the Bank of Ghana, Dr. Johnson Asiama, has dismissed claims that the Central Bank is manipulating the Cedi’s value.
Speaking at the Ghana CEO Summit in Accra on Monday, May 26, 2025, he said the Cedi’s 24.1% gain against the US dollar reflects real economic progress. “We are not using international reserves to support the Cedi,” he said. “This appreciation is not artificial or unsustainable.”
Dr. Asiama credited the gains to strong macroeconomic policies. These include disciplined monetary policy, targeted foreign exchange reforms, improved remittance flows, and tighter market oversight. “These are long-term structural measures, not quick fixes,” he added.
His remarks follow speculation that the Central Bank is intervening to influence the Cedi’s recent performance. But the Governor insists that Ghana’s economic fundamentals are driving the gains.
