BOG ASSURES GHANAIANS,CEDI STABILITY WILL BE RESTORED

The Bank of Ghana (BoG) has moved to allay public fears over the recent depreciation of the Ghanaian cedi, assuring that the currency will soon stabilize. In a statement captured by Citi News, the central bank emphasized that a combination of strategic monetary policies and external financial inflows will support the recovery of the cedi.

The BoG noted that while the local currency has come under pressure due to seasonal forex demand and global economic challenges, measures are actively being implemented to manage the situation. These include increased forex supply, tightening of monetary policy, and expected inflows from the cocoa syndicated loan and other external sources.

Officials from the central bank have called on the public and market players to avoid speculative behavior and maintain confidence in the economy, stating that the current fluctuations are temporary and being addressed with urgency.

The BoG remains committed to ensuring macroeconomic stability and a sound financial system, with the goal of returning the cedi to a stable trajectory in the short to medium term.