Governor of the Bank of Ghana, Dr. Pandit Johnson Asiama has described the Ghana Cedi as the best performing currency within Sub-Saharan Africa, reflecting on the country’s recent economic turbulence and remarkable recovery of the Cedi.
Speaking at the launch of the Cedi@60 celebration at the Accra International Conference Centre on October 28, 2025, Dr. Asiama acknowledged the 2022 crises when Ghana Cedi lost over half of its value and earned the title of the world’s worst-performing currency.
At the time, inflation spiralled to 54%, and food inflation soared to an alarming 59.7% year-on-year, straining households, businesses alike were strained, and rising transport fares.
Despite these challenges, he said these were not the end to the story emphasizing Ghana has turned a decisive corner.
“And indeed, the evidence is compelling. Headline inflation is now at 9.4% as of September 2025. And we expect it to end the year even far lower. The Cedi has appreciated by 37% as of October 17. And according to the World Bank, it is the best-performing currency in sub-Saharan Africa for the first eight months of 2025.”
According to the governor, these gains are as a result of “hard, sometimes unpopular, but principled decisions,” including fiscal consolidation, a tight monetary policy stance, and renewed investor and public confidence.
“And so today, as we celebrate 60 years of the city, we do so not out of nostalgia, but from a place of hard-won stability and cautious optimism. As your central bank, our mandate remains unchanged.
And this is to safeguard price stability, preserve financial system resilience, and support long-term inclusive recovery. We are not yet where we want to be, Excellencies, but we are no longer where we were. And that is why this moment of City at 60 is not just ceremonial, it is timely.”
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