Government outlines cedi stabilisation plan as forex market faces tighter regulations

The Bank of Ghana (BoG) is set to introduce new measures to stabilise the cedi and reduce exchange rate volatility, which has been a major challenge for businesses and importers.

Presenting the 2025 Budget Statement and Economic Policy to Parliament on March 11, 2025, Finance Minister Dr Cassiel Ato Forson said stabilising the currency was essential to lowering the cost of living and helping businesses plan effectively.

“Our engagements with traders and businesses indicate that exchange rate instability is one of the biggest challenges they face. This budget addresses these concerns with a concrete plan,” he said.

As part of the government’s cedi stabilisation plan, the BoG will:
 • Strengthen regulations on forex trading to curb speculation that artificially increases demand.
 • Increase monitoring of forex bureaus and banks to ensure compliance with exchange rate policies.
 • Boost Ghana’s foreign reserves through an improved gold-for-oil policy and measures to increase exports.

Dr Forson said the government is also working with the private sector to expand local production, reducing Ghana’s reliance on imports, which has been a major factor in the cedi’s depreciation.

He assured businesses that stabilising the currency remains a priority for the Mahama administration, as a stable cedi will help lower inflation and create a more predictable economic environment.