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Economist and political risk analyst, Dr. Theo Acheampong, has stressed the importance of maintaining a stable and sustained appreciation of the Ghanaian cedi to enhance economic planning and boost investor confidence.
His remarks come amid the recent strengthening of the cedi against major global currencies such as the US dollar, the euro, and the British pound—a trend that has sparked renewed hope for Ghana’s economic outlook.
Speaking on The Point of View with Bernard Avle on Channel One TV on Monday, May 12, Dr. Acheampong pointed to the current high global gold prices as a potential advantage for reinforcing the cedi’s stability.
“I think that if gold prices, especially being high for the remainder of the year, we are actually in much better position to drive down the rate much for all of us,” he stated.
He emphasized that economic predictability—particularly in the exchange rate—is essential for sound decision-making by both businesses and policymakers.
“For me, a sustained appreciation is what we want. What people don’t want is the sharp dips, and subsequently, it goes all the way back up again. That is not good for anyone, at all,” he noted.
Dr. Acheampong explained that consistency is key to fostering economic stability, adding that clear expectations regarding exchange rates help with planning.
“So, basically, you’re planning with the sense that if, for example, it is between GHC12 and GHC13 per a dollar that you want, then that is what you expect for the rest of the year,” he said.
He concluded by calling for deliberate and consistent policy actions to protect and extend the recent gains made by the cedi in order to sustain economic momentum over the long term.
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