Trust in Cedi crucial for economic stability — Veep
Vice President Professor Naana Jane Opoku-Agyemang has underscored the need for citizens to build trust in the national currency, the cedi, in order to sustain the economic gains that have been achieved.
She said the government would protect the gains that had been achieved through transparent actions and accountable policies.
“Trust in the cedi will not sustain itself,” stressing that the country must “protect what we have rebuilt through sound decisions, transparent actions, and accountable policies.”
She called for sustained fiscal discipline and responsible governance to safeguard the gains made in stabilising the Ghanaian cedi.
Lead by example
She said the government would “lead by example and permit real fiscal discipline,” urging that “every loan be tied to a return and every cedi spent to a corresponding value.”
Speaking at the launch of the Cedi@60 celebration in Accra, the Vice President stated that Ghana has “learnt painful lessons from fiscal indiscipline and over-borrowing,” citing the Domestic Debt Exchange Programme (DDEP) as a clear example of the consequences of past excesses.
“Therefore, macro-economic stability must not be treated as an abstract achievement but as being about quality of life. Ladies and gentlemen, we have weathered domestic and global storms, notably the structural adjustment of the eighties, the 2008 global financial crisis, the domestic debt exchange, and the most recent economic crises. We have learnt painful lessons from fiscal indiscipline, over-borrowing, and ignoring tried principles,” she said.
Quoting Bloomberg data, Prof. Opoku-Agyemang highlighted that the cedi, which was the world’s worst-performing currency in 2022, has now become the best-performing currency in 2025, while inflation has dropped from 54.1 per cent to 9.4 per cent.
She further revealed that Ghana’s foreign reserves had exceeded $12 billion, signalling renewed investor confidence.
Tight policy
The Vice President commended the Bank of Ghana for its tight monetary policy and effective regulation of virtual asset service providers. She encouraged closer collaboration with banks and businesses to enhance the use of cedi accounts domestically and internationally.
“The Bank of Ghana must remain a steward of stability,” she asserted, reiterating the need to uphold the cedi’s legal tender status and discourage dollarisation in domestic transactions.
Prof. Opoku-Agyemang also emphasised the importance of civic education and public awareness in sustaining confidence in the national currency, adding that “the cedi is as strong as the institutions and people who protect it.”
She lauded the BoG’s efforts in developing the e-cedi, describing it as a step toward modernising Ghana’s payment systems and ensuring the cedi’s relevance in a digital economy.
“As we embrace financial innovation, we must equally adopt digital inclusion. The benefits of digital finance must reach all Ghanaians,” she added.
She urged stakeholders — government, Parliament, the private sector, academia, and the media — to uphold fiscal responsibility and national pride as Ghana marks 60 years of its currency.
Editor's Note:
This article has been updated to reflect the exact quote from the Vice President. An earlier version published on November 3, 2025, and a poster generated from it and published on Wednesday, November 19, 2025, inadvertently misquoted the Vice President. We are sorry for the inconvenience and embarrassment it might have caused the Office of the Vice President.