The Presidential Advisor on the Economy, Seth Terkper, has indicated that the government is actively working to stabilise the Ghana cedi at around GH¢10 to the US dollar, as part of a renewed commitment to fiscal discipline and macroeconomic recovery.
This assurance comes on the back of comments by President John Dramani Mahama, who recently revealed that both the Finance Minister and the Governor of the Bank of Ghana estimate the cedi’s true value to be between GH¢10 and GH¢12 per dollar.
Speaking on PM Express Business Edition on Joy News, Mr. Terkper, who is also a former Finance Minister, explained that a comprehensive strategy is underway to curb exchange rate volatility and build investor confidence.
“We’re not just relying on monetary tools, but combining them with structural fiscal reforms and tighter expenditure controls”.
“The goal is to achieve a stable range, and we’re aligning policy actions to get there”, he said.
Mr. Terkper further noted that the stabilisation strategy includes boosting foreign exchange reserves, increasing export revenue, and enforcing fiscal discipline across all public sector operations.
The statement comes at a time when the cedi has shown signs of appreciation, though concerns persist about inflation, debt sustainability, and global financial uncertainty.
While the announcement has sparked cautious optimism in financial markets, experts stress that long-term stability will depend on consistent policy implementation.
The government is expected to provide more clarity on its currency management strategy in the upcoming mid-year budget review.
