{"id":247624,"date":"2025-10-29T10:09:09","date_gmt":"2025-10-29T10:09:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/247624\/"},"modified":"2025-10-29T10:09:09","modified_gmt":"2025-10-29T10:09:09","slug":"bog-sees-cedi-as-symbol-of-resilience-and-economic-rebirth","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/247624\/","title":{"rendered":"BoG sees cedi as symbol of resilience and economic rebirth"},"content":{"rendered":"

\"File <\/a>File photo of a cedi note<\/p>\n

The central bank on Tuesday, October 28, 2025, launched a year-long celebration marking six decades of the national currency, describing the cedi as a symbol of economic resilience and national identity following years of volatility and recovery.<\/p>\n

The \u2018Cedi@60\u2019 initiative, themed \u201960 Years of the Cedi: A Symbol of Sovereignty, Stability and Economic Resilience\u2019, aims to deepen public understanding of the currency\u2019s role in Ghana\u2019s development.<\/p>\n

The Bank of Ghana (BoG) said this programme will include exhibitions, school engagements, public lectures and community forums across the country.<\/p>\n

Speaking at the national launch in Accra, BoG Governor Dr. Johnson Pandit Asiama said the milestone is not just a commemoration of the past but also a reflection on Ghana\u2019s economic journey and progress toward stability.<\/p>\n

\u201cThe cedi is far more than a currency,\u201d he said. \u201cIt is a trusted store of value, a driver of economic activity and a daily emblem of our collective confidence.\u201d<\/p>\n

He noted that the cedi\u2019s six-decade evolution \u2013 from the 1965 replacement of the Ghanaian Pound to the redenominations of 1967 and 2007 \u2013 reflects Ghana\u2019s continuous effort to modernise its financial system and preserve monetary sovereignty. Each phase, he added, represents a story of resilience, innovation, and adaptation to global changes.<\/p>\n

Dr Asiama acknowledged that the cedi\u2019s journey mirrors Ghana\u2019s broader economic history, marked by challenges including inflation spikes, debt distress and currency depreciation.<\/p>\n

\u201cThe cedi\u2019s story cannot be separated from the story of our economy,\u201d he said, citing the severe depreciation in 2022 when the cedi lost more than half its value, inflation peaked at 54% and household budgets came under strain.<\/p>\n

\u201cBut that was not the end of our story,\u201d he added, crediting policy coordination under President John Dramani Mahama for helping to restore stability. Inflation has since fallen to 9.4 percent as of September 2025, while the cedi has appreciated by 37 percent this year \u2013 making it the best-performing currency in sub-Saharan Africa, according to World Bank data. Ghana\u2019s international reserves now exceed US$12billion, providing a buffer against external shocks.<\/p>\n

Dr. Asiama said the gains reflect disciplined fiscal management and a tight monetary stance, though he cautioned against complacency.<\/p>\n

\u201cWe are not yet where we want to be, but we are no longer where we were,\u201d he said. \u2018Cedi@60\u2019 is not just ceremonial, it reminds us of how far we\u2019ve come and challenges us to protect what we have gained.\u201d<\/p>\n

Vice President Prof. Naana Jane Opoku-Agyemang, who delivered a keynote address, described the cedi\u2019s turnaround as evidence of policy credibility and national resilience.<\/p>\n

\u201cAccording to Bloomberg, the cedi \u2013 the world\u2019s worst-performing currency in 2022 \u2013 became the best-performing in 2025,\u201d she said. \u201cInflation dropped sharply and reserves rose above US$12billion.\u201d<\/p>\n

She called for continued fiscal prudence, stressing that confidence in the cedi \u201cwill not sustain itself\u201d without sound decisions and transparent governance. \u201cGovernment must lead by example; no more reckless borrowing or deficits that burden future generations,\u201d she said.<\/p>\n

She urged respect for the central bank\u2019s independence and the cedi\u2019s legal tender status.<\/p>\n

Prof. Opoku-Agyemang also highlighted the role of digital finance in sustaining confidence, noting BoG\u2019s progress with the eCedi \u2013 a central bank digital currency.<\/p>\n

\u201cOnce fully scaled, the eCedi will modernise payment systems and ensure that even in a cashless future the cedi retains its importance,\u201d she said.<\/p>\n

The year-long Cedi@60 programme will blend history, education and technology to strengthen public trust in the national currency.<\/p>\n

\u201cA currency stands strong not because of what it\u2019s printed on,\u201d Dr. Asiama said, \u201cbut because the people who use it believe in it.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"File photo of a cedi note The central bank on Tuesday, October 28, 2025, launched a year-long celebration…\n","protected":false},"author":2,"featured_media":247625,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[45,49,48,46],"class_list":["post-247624","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-ca","tag-canada","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/247624","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=247624"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/247624\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/247625"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=247624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=247624"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=247624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}