27/05/2025
BoG Dismisses Export Fears as Cedi Rallies – B&FT, Tuesday, May 27, 2025
Ghana’s status as a net importer means that the cedi’s appreciation helps make imports cheaper—an immediate benefit in an economy that currently imports too much.
However, for an economy seeking to revitalise its agro-processing, manufacturing, and Culture, Arts & Tourism sectors, a stronger cedi complicates the path to export-led growth. It doesn’t make it impossible—just more challenging.
The more immediate and actionable opportunity lies in stimulating domestic production, and encouraging both consumer and government spending on Made-in-Ghana goods and services. As the real purchasing power of households and businesses improves, local demand can be a powerful driver of growth.
Of course, this outlook holds ceteris paribus—if the cedi’s appreciation continues at a modest pace or stabilises. A sharp reversal could reintroduce volatility, fuel speculation, and trigger capital flight—risks that must not be overlooked.
