Finance Minister Dr. Cassiel Ato Forson has been receiving widespread praise after only four months in office, with many noting a significant improvement in the performance of the Ghanaian Cedi against the US dollar. Among his admirers is popular online commentator Albert Nat Hyde, widely known as Bongo Ideas, who has lauded the minister’s efforts.
According to Bongo Ideas, Dr. Ato Forson has overseen the Cedi’s strengthening from GH¢17 to GH¢14 against the dollar within a short period. In his post on X, he observed the steady progression: “4 months in office, Ato Forson has moved the dollar down from 17ghc to 16ghc to 15ghc & now at 14ghc and this is projected to hit 12ghc by mid year! Ofori-Atta & Bawumia couldn’t accomplish half of this in 8 years. Fiscal discipline! Aban Papa Aba!”
He further pointed out that the performance of the Cedi under Ato Forson surpasses the achievements of former Finance Minister Ken Ofori-Atta and former Vice President Dr. Mahamudu Bawumia, who were once celebrated by the New Patriotic Party (NPP) as economic experts.
Ghanaians have reacted to the news of the Cedi’s steady rise. One user commented, “When leadership is disciplined in their spending and prioritizes financial stability, it absolutely reflects in the cedi’s performance.” Another praised the development, saying, “The stability of the dollar be solid waa.”
However, not all responses have been entirely celebratory. A more cautious observer stated, “Bro, it’s good to see progress, but let’s stay grounded. Currency strength is influenced by many factors—policy, global trends, and investor confidence. If this holds long-term, then we talk legacy. For now, cautious optimism is wiser than blind celebration.”
In contrast, a skeptic questioned the claims about the previous rate of the Cedi against the dollar, noting, “Herr! U dem for lash u bad, you no dey do ur homework. USD never went up 17ghc.”
Another optimistic Ghanaian expressed hope for further improvements, adding, “I know if the Goldbod is managed well as envisaged, it will drop even further. Can’t wait to see it drop to a point where our salaries will make some sense.”
Meanwhile, Dr. Ato Forson has reiterated his confidence in the future performance of the Cedi. Speaking in an interview with Channel One TV on Wednesday, March 12, he said, “I have faith in the Cedi. I believe that the Cedi will do well based on the fundamentals and the work that we have done so far. I believe that the Cedi will perform well.”
These comments come amid concerns raised by the Bank of Ghana Governor, Dr. Johnson Asiama, who warned that the recent decline in Treasury Bill (T-Bill) rates could negatively impact the Cedi’s value. Despite this, Ato Forson remains firm, insisting that the economic fundamentals and government interventions will sustain the currency’s strength.
Current checks on Google and the Bank of Ghana’s daily exchange rate flyer as of April 25, 2025, confirm that the Cedi is trading at GH¢14.70 to the US dollar.
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