See the measures government intends to use to tackle inflation and the exchange rate
The government has outlined a series of measures aimed at tackling inflation and stabilising the exchange rate as part of its broader economic recovery strategy.
These measures were presented by the Minister of Finance, Dr Cassiel Ato Baah Forson, in Parliament during the 2025 Business Statement and Economic Policy presentation.
Dr Forson emphasised that the government will implement policies to complement the Bank of Ghana’s (BoG) monetary and exchange rate strategies to curb inflationary pressures and ensure a stable cedi.
Measures to stabilise the exchange rate
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To enhance exchange rate stability, the government will:
- Establish GoldBod, a scheme to increase foreign exchange reserves by leveraging Ghana’s gold resources to support the cedi.
- Continue the BoG’s foreign exchange forward auctions to provide stability to the currency market.
- Undertake strong fiscal consolidation, including reduced public sector spending and a lower fiscal deficit, to ease exchange rate pressures.
- Promote import substitution under the 24-Hour Economy Policy, boosting domestic production of key goods currently imported, thereby cutting down foreign exchange demand.
Strategies to reduce inflation
The government is also rolling out initiatives to tackle inflation, including:
- Implementing the Agriculture for Economic Transformation Agenda to boost food production and curb food price inflation.
- Introducing targeted policies to reduce the costs of essential items such as transport and utilities, which have a significant impact on inflation.
- Strengthening fiscal consolidation efforts to reduce the fiscal deficit and government borrowing, which will help lower inflationary pressures.
- Ensuring exchange rate stability, which will help control the cost of imported goods and fuel.
- Supporting the BoG’s monetary policy stance and liquidity management interventions to sustain the disinflation process.
Dr Forson assured Parliament that these measures are designed to bring lasting relief to Ghanaians by creating a more stable economic environment, reducing the cost of living, and ensuring sustainable growth.