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Ghana’s central bank denies injecting $1.4B, attributing cedi strength to gold reserves and fiscal reforms.
Ghana’s central bank denies injecting $1.4 billion into the economy, stating that recent cedi stability resulted from foreign exchange from the Ghana Gold Board, not direct funding.
Governor Dr. Johnson Asiama emphasized that protecting the cedi is a shared national responsibility, urging citizens to trust and use the local currency.
The cedi has appreciated 37% year-to-date, becoming Africa’s top-performing currency, supported by tight monetary policy, gold-backed reserves, and improved fiscal discipline.
President John Dramani Mahama credited these efforts for restoring confidence, with growing cedi usage and a recent S&P credit upgrade.
However, MP Dr. Gideon Boako warned that sterilizing GH¢62 billion in 2024 has restricted household spending, risking a consumption slump during Christmas despite ample goods.
El banco central de Ghana niega haber inyectado $1.4B, atribuyendo la fortaleza del cedi a las reservas de oro y las reformas fiscales.