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Mahama projects cedi depreciation to stay within 5% annually.
President John Dramani Mahama has projected that the cedi’s depreciation will remain moderate in the coming months, staying within a band of around 5% per annum.
He described the recent currency fluctuations as part of a natural adjustment process rather than a sign of renewed instability.
Speaking at a media engagement on Wednesday, the President acknowledged that the Bank of Ghana (BoG) had intervened aggressively in the first half of 2024, when the local currency depreciated by nearly 25%.
He noted, however, that the central bank has since scaled back direct interventions as the cedi shows signs of stabilising.
President Mahama assured businesses and investors of greater currency stability, stressing that the government’s focus on fiscal discipline, prudent expenditure management and stronger macroeconomic fundamentals will provide a more predictable environment for trade and investment. Read More
