President John Dramani Mahama has stated that the appreciation of the Ghanaian cedi against the dollar is due to robust foreign exchange inflows and deliberate policy measures aimed at stabilising the economy.
He explained that the improved performance of the local currency is largely supported by strengthened gross international reserves, which have surged from $8.9 billion in December 2024 to $10.6 billion by April 2025.
President Mahama asserted that the upward trend reflects growing investor confidence and enhanced external financial buffers.
He made the remarks at the opening of the Ghana–EU Business Forum in Accra on Tuesday, May 20, 2025.
He reiterated the commitment of his government to meet its economic growth targets for the year.
“Fiscal consolidation is underway; we have reduced the fiscal deficit on a 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, improved domestic revenue mobilisation 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.
He further assured local and international investors of his administration’s commitment to fostering a secure and enabling 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.”
The forum, held under the theme “Deepening Ghana-EU Cooperation on Trade and Investment in Non-Traditional Value Chains under the EU Global Gateway Strategy”.
By: Rainbowradioonline.com/Ghana