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Economist and Political Risk Analyst, Dr. Theo Acheampong, has underscored the critical importance of maintaining a stable and sustained appreciation of the Ghanaian cedi to support effective economic planning and bolster investor confidence.
Economist and Political Risk Analyst, Dr. Theo Acheampong, has underscored the critical importance of maintaining a stable and sustained appreciation of the Ghanaian cedi to support effective economic planning and bolster investor confidence.
His comments come in the wake of a steady strengthening of the cedi against major international currencies—including the US dollar, euro, and British pound—a trend that has renewed optimism about Ghana’s macroeconomic prospects.
Appearing on The Point of View with Bernard Avle on Channel One
TV on Monday, May 12, Dr. Acheampong highlighted the current global price of gold as a strategic opportunity to further stabilise the local currency.
“I think that if gold prices, especially being high for the remainder of the year, we are actually in much better position to drive down the rate much for all of us,” he said.
He emphasised that predictability in the exchange rate is essential for making sound economic decisions.
Dr. Acheampong also called for consistent policy measures and deliberate economic planning to ensure that the recent gains of the cedi are not only preserved but extended over time.
“For me, a sustained appreciation is what we want. What people don’t want is the sharp dips, and subsequently, it goes all the way back up again. That is not good for anyone, at all, and so, basically, you’re planning with the sense that if, for example, it is between GHC12 and GHC13 per a dollar that you want, then that is what you expect for the rest of the year,” he explained.
