Ghanaian MP Rockson-Nelson Dafeamekpor and financial analyst Joe Jackson have offered contrasting yet complementary perspectives on the recent appreciation of the cedi against the US dollar, attributing the trend to both domestic reforms and global economic shifts.
Dafeamekpor, Majority Chief Whip and South Dayi MP, credited Finance Minister Dr. Cassiel Ato Forson and Bank of Ghana Governor Dr. Johnson Asiama for implementing “deliberate policies” that stabilized the currency. Speaking on TV3’s Key Points (May 14, 2025), he emphasized rigorous fiscal discipline, stating, “These gains aren’t accidental. Dr. Forson and Dr. Asiama have crafted top-tier strategies to offset external shocks like the loss of $200 million in US aid.”
Conversely, Joe Jackson, CEO of Dalex Finance, highlighted external factors during his May 17 appearance on the same program. He noted that declining global oil prices—driven by US-China trade tensions—reduced Ghana’s monthly $400 million fuel import costs. Additionally, investors’ shift toward gold amid market uncertainty boosted Ghana’s exports, strengthening foreign reserves. “External tailwinds aligned, but Ghana’s preparedness allowed it to capitalize,” Jackson remarked.
While Dafeamekpor underscored Ghana’s policy-driven resilience, Jackson contrasted its performance with neighboring economies: “Nigeria’s naira struggles despite similar global conditions, proving Ghana’s reforms amplify external advantages.”
The cedi’s recovery underscores a dual narrative of strategic governance and favorable international dynamics, positioning Ghana as a regional economic leader.
