Presidential Advisor on the Economy, Seth Terkper, has revealed that the government is working to stabilize the Ghana cedi at around GH¢10 to the US dollar as part of a broader fiscal and economic recovery strategy.
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Speaking on PM Express Business Edition on Joy News, the former Finance Minister explained that the target reflects the government’s commitment to exchange rate stability and investor confidence.
“We’re not just relying on monetary tools, but also implementing structural fiscal reforms and tighter spending controls,” Terkper stated.
His remarks follow President John Mahama’s comment that both the Finance Minister and the Bank of Ghana Governor estimate the cedi’s actual value to be between GH¢10 and GH¢12 per dollar.
Comprehensive Stabilisation Plan
According to Mr. Terkper, the government’s strategy includes:
- Strengthening foreign exchange reserves
- Enhancing export earnings
- Enforcing fiscal discipline across ministries and agencies
“The goal is to maintain a stable trading range. We’re aligning our policies to achieve that,” he said.
Outlook and Market Reaction
The cedi has recently shown signs of recovery, but concerns about inflation, debt sustainability, and global uncertainty remain.
While the announcement has stirred cautious optimism in financial markets, analysts say lasting stability hinges on policy consistency and enforcement.
The government is expected to outline further details of its currency stabilization strategy during the mid-year budget review.
