The Ghana Cedi dey perform well for 2025, wey e be the best performing currency for the world so far. Dis dey happen because Bank of Ghana dey sell plenty foreign exchange, like US$1.4 billion for the first three months of the year. Dis dey supported by money wey dey come from gold, cocoa, and people wey dey send money from abroad.
The Wahala Wey Dey
But, some people dey worry. The IMF and market experts dey say if we dey rely too much on commodities and dey do too much intervention, e fit make the cedi strong for face only. Dem dey warn say e fit spoil market prices, encourage black market, and drain our reserves if money no dey come like before or if we get plenty debt to pay.
Ghana Own Way
Dr. Bernard TETTEH-DUMANYA dey advise the Governor of Bank of Ghana to stand strong. He dey say we don hear dis kind advice before, but e no dey always work for Ghana. He dey point to other countries like China, Switzerland, Japan, India, and Singapore wey dey manage their currencies differently from wetin IMF dey say.
- China dey buy plenty dollars to keep their currency low.
- Switzerland bin tie their currency to the euro for some time.
- Japan dey sell dollars to make their currency weak.
- India dey try make their currency stable with plenty reserves.
- Singapore dey manage their currency within a range.
Dr. TETTEH-DUMANYA dey say Ghana need to find our own way to manage the cedi, wey go fit our economy well, instead of just following wetin oyinbo dey say.
He dey suggest say Ghana focus on domestic strategies to make sure the cedi dey strong and stable for the long run.