Former President John Dramani Mahama has credited the recent appreciation of the Ghanaian cedi not to luck or external factors, but to what he describes as the impact of sound economic policies implemented by the government. Speaking at a forum on Ghana’s economic outlook, Mahama emphasized that currency stability is a direct outcome of deliberate and well-structured fiscal and monetary strategies.
President John Mahama said this at Kintampo during his thank-you tour in the Bono East region. Pimampim Yaw Kabrese and Elizabeth Ofosu Agyare, Minister for Trade and Agribusiness, and several others were present.
“The cedi’s recent appreciation is not by chance,” Mahama asserted. “It is the result of tough decisions and consistent policy implementation aimed at restoring macroeconomic stability and investor confidence.”
His remarks come amid a notable improvement in the value of the cedi against major international currencies, particularly the U.S. dollar. After a turbulent period marked by steep depreciation, inflation, and foreign exchange volatility in recent years, the local currency has shown signs of steady recovery in 2025. Mahama outlined several policy areas that he believes have contributed to the currency’s turnaround:
However, some economists and political analysts caution that the appreciation of the cedi, while encouraging, may not be sustainable without deeper structural reforms. They warn against over-crediting short-term gains to political leadership without addressing fundamental economic weaknesses.
Mahama’s comments signal a strategic focus on positioning economic management as a key issue, particularly in contrast with previous criticisms of his own administration’s handling of the currency.
While the debate continues, one fact is clear: the cedi’s recent gains are drawing both applause and scrutiny, as Ghanaians look for lasting solutions to long-standing economic challenges.
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