President John Dramani Mahama has commended the Bank of Ghana and the Ministry of Finance for the stability of the Ghana Cedi achieved in recent months.
According to him, the shift from pricing goods and services in dollars to cedis is one of the indicators of renewed trust in the national currency.
Speaking at the Cedi@60 International Currency Conference on November 18, he recounted a recent experience involving a relative who requested an invoice for a car from a dealer.
“When the invoice came I was surprised to note that the invoice was quoted in cedis, no dollars. A few years ago if you were going to buy a car, the invoice they give you is quoted in dollars,” he said.
He commended the central bank and the Finance Ministry for their management of the currency.
“I just want to say to the governor and all your team at the Bank of Ghana, the Ministry of Finance, Ghanaians are grateful to you for the management of our currency.”
President Mahama added that Ghana’s currency had regained the respect it previously lacked and urged the economic managers to maintain the momentum.
“A lot of respect had returned to our currency and it’s my hope that you keep whatever you’re doing.”
He further stated that the celebration of the cedi’s anniversary also provides an opportunity for deeper reflection on the future of the currency.
“The Cedi at 60 is therefore more than just a celebration, it is a moment for analysis, it is a chance to consider what our currency stands for, how it has developed and how it must be fortified for the years ahead.”
The Cedi @ 60 International Currency Conference is a four-day event running from November 17 to 20, and hosted by the Bank of Ghana in partnership with Currency Research to commemorate the 60th anniversary of the Cedi.
