Accra: Vice President Professor Naana Jane Opoku-Agyemang says Ghana's economy is being reset to ensure stability and long-term growth built on discipline, hard work, and trust from people and institutions. She emphasized that through prudent expenditure cuts, strengthened employment controls, and sound financial management, the economy was restoring confidence, rebuilding value, and achieving tangible gains.
According to Ghana News Agency, the Vice-President was speaking at the 14th Ghana Economic Forum, themed 'Currency Stability: A Reset for Sustainable Economic Growth.' The event, organized by the Business and Financial Times (BFT), aims to foster in-depth discussions and debates on critical issues shaping Ghana's economy, exploring solutions to overcome challenges and accelerate national development goals.
Professor Opoku-Agyemang stated that the same principles applied to the country's currency and economy, which is why the government continued to push for reforms. She noted that when the Cedi depreciated, it was not only economists who felt the pain, but every household suffered the consequences. A stable Cedi, she said, would bring economic calm, slow inflation, make credit cheaper, and provide households with a sense of security.
Highlighting the nation's economic history, she mentioned that Ghana had gone through several economic chapters, from the British pound to the re-domination of 2007 till now. Throughout these chapters, the nation learned that over-reliance on raw exports, excessive imports, and undisciplined fiscal habits caused the Cedi to suffer.
The Vice-President pointed out that the Cedi had significantly strengthened, recovering from turbulence a few years ago when it was considered one of the worst-performing currencies globally. At the same time, inflation slowed to 9.4 percent, and gold reserves multiplied. She also noted that agreements with creditors had eased debt distress and fiscal reforms were beginning to bear fruit. These outcomes, she said, were the results of deliberate disciplinary choices supported by the Bank of Ghana's careful policies, stronger export performance, and the Gold Board initiative.
To ensure the recovery's durability, Professor Opoku-Agyemang stressed the importance of adding value to Ghana's production, empowering small businesses and the youth, and building sustainable currency value through discipline, accountability, and national cooperation.
