{"id":209663,"date":"2025-10-18T21:40:04","date_gmt":"2025-10-18T21:40:04","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/209663\/"},"modified":"2025-10-18T21:40:04","modified_gmt":"2025-10-18T21:40:04","slug":"imf-applauds-ghanas-recent-cedi-appreciation","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/209663\/","title":{"rendered":"IMF applauds Ghana\u2019s recent cedi appreciation"},"content":{"rendered":"

\"The <\/a>The IMF has praised Ghana’s economic recovery<\/p>\n

The International Monetary Fund (IMF) has lauded Ghana on the recent stabilisation of the cedi, noting that the development signals improvements in the country\u2019s economic fundamentals, renewed policy credibility, and investor confidence. <\/p>\n

Abebe Aemro Selassie, Director, African Department, IMF, said this at the October 2025 Regional Economic Outlook for Sub-Saharan Africa\u202fin Washington, D.C, during the IMF\/World Bank Annual Meetings. <\/p>\n

\u201cA couple of years ago, all the concern in Ghana was about uncontrolled depreciation. It\u2019s generally good to see stabilisation returning to the economy\u2026 allowing the cedi to stabilise and maybe even begin to appreciate,\u201d he said. <\/p>\n

Selassie underscored that \u201call such things are good for competitiveness; the direction of travel that is the right one and the appreciation reflective of some fundamentals, but we don\u2019t want that to get too frothy.\u201d <\/p>\n

He, however, cautioned that excessive appreciation of the exchange rate could have a negative bearing on the cedi and the economy at large, urging the Central Bank to reduce its interference. <\/p>\n

The IMF African Department Director explained that Ghana\u2019s relatively shallow capital, foreign exchange and money markets exposed it to volatility, which could be disruptive to the economy, calling for a balanced approach to handling the forex market. <\/p>\n

\u201cIt\u2019s about striking the right balance. Too much interference can cause problems when you have a lot of flaws and you\u2019re trying to identify and calibrate policies to minimise those flaws,\u201d he stated. <\/p>\n

In the first quarter of 2025, the Bank of Ghana injected US$1.4 billion into the currency markets, with additional US$2bn in the second quarter, helping boost the appreciation of the cedi and shore up the country\u2019s external buffers. <\/p>\n

Meanwhile, Dr Johnson Asiama Pandit, Governor of the Bank of Ghana, in an earlier engagement on a different platform at the meetings, noted the Bank\u2019s interventions were to prevent a total market collapse, saying, \u201cWe do not over-support the markets at all.\u201d <\/p>\n

\u201cAll we seek to do is to limit the volatilities in the markets, to ensure that we have that smooth dynamics in the market. And that\u2019s the framework we will maintain going forward,\u201d he emphasised. <\/p>\n

The President, John Dramani Mahama, during a media engagement in September, in Accra, noted that the Central Bank intervened in the foreign exchange market to correct some imbalances warranted by the appreciation of the cedi. <\/p>\n

\u201cThe Bank of Ghana has been intervening in the forex market, but they\u2019ve withdrawn,\u201d he said, explaining that it was because of the exponential increase in imports, occasioned by the rapid appreciation in the value of the cedi. <\/p>\n

The situation, he said, was not favourable to exporters, hence the need to adjust and balance developments in the market to ensure that exporters were able to do good business and importers also not overburdened by high forex. <\/p>\n

Watch the latest episode of Health Focus below<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"The IMF has praised Ghana’s economic recovery The International Monetary Fund (IMF) has lauded Ghana on the recent…\n","protected":false},"author":2,"featured_media":83639,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,1294,56,54,55],"class_list":{"0":"post-209663","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-uk","11":"tag-united-kingdom","12":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/209663","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=209663"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/209663\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/83639"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=209663"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=209663"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=209663"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}