The Presidential Advisor on the Economy, Seth Terkper, has announced that the government is working to stabilise the Ghana cedi at approximately GH¢10 to the US dollar. This is part of broader efforts to ensure fiscal discipline and macroeconomic recovery.
The assurance follows recent comments by President John Dramani Mahama, who disclosed that both the Finance Minister and the Governor of the Bank of Ghana estimate the cedi’s true value to be within the GH¢10 to GH¢12 range per dollar.
Speaking on PM Express Business Edition on Joy News, Mr. Terkper, a former Finance Minister, explained that a comprehensive approach is being deployed to control exchange rate fluctuations and strengthen investor confidence.
“We’re not just relying on monetary tools, but combining them with structural fiscal reforms and tighter expenditure controls,” he stated.
“The goal is to achieve a stable range, and we’re aligning policy actions to get there,” he added.
Mr. Terkper outlined key components of the stabilisation strategy, including increasing foreign exchange reserves, boosting export revenue, and ensuring strict fiscal discipline across all public sector operations.
The announcement comes at a time when the cedi has shown signs of appreciation, although concerns remain about inflation, debt sustainability, and global financial uncertainty.
While the move has generated cautious optimism in financial circles, experts emphasize that achieving long-term stability will require consistent policy implementation.
The government is expected to provide further details on its currency management approach in the upcoming mid-year budget review.
