Cedi Appreciation Against US Dollar: It’s Too Early To Jubilate – Atik To Ghanaians
Atik Mohammed has cautioned Ghanaians against becoming overly excited by the cedi appreciation against the foreign currencies, particularly the US Dollar.
The Ghanaian Cedi (GHS) has appreciated to GHS 13.47 per US Dollar (USD) as of May 6, 2025, achieving a 7.44% year-to-date gain after a 45.1% depreciation in 2022.
This appreciation of the local currency has brought joy to many Ghanaians with they praising the President on his achievements in his 120 days.
But Atik, a socio-economic analyst, has asked Ghanaians to tone down on the jubilation, stressing the cedi’s current strength though is a plus for the nation, what is important is for the government to initiate policies that will sustain it.
“I would caution against early jubilation because so many things need to be in place to sustain this currency; I mean the strength of the currency”, he said on Peace FM’s “Kokrokoo” panel discussion show.
He continued; “What is the need to celebrate? It is actually, in the first place, an indictment on us that a country such as Ghana, we get excited over small gains like this.”
On the issue of whether or not Ghana’s currency appreciation is related to the US/China war, Atik, without downplaying the impact of the trade war, noted that the current situation of the cedi is as a result of good fiscal decisions taken by the Mahama administration.
Source: Ghmessenger.com
