Ministry of Finance, BoG working to address cedi depreciation – Amin Adam assures

Finance Minister Dr. Mohammed Amin Adam has assured that the Ministry of Finance and the Bank of Ghana are implementing measures to address the cedi's depreciation.

These include fast-tracking fiscal consolidation by rationalizing spending and enhancing revenue mobilization, intensifying the gold-for-oil and gold-for-reserve programs, and making appropriate foreign exchange interventions.

Additionally, they anticipate disbursements from the IMF and World Bank projects. Dr. Amin Adam emphasized that there is enough foreign exchange supply, negating the need for panic buying.

Efforts are also underway to restore debt sustainability by 2028, with the debt-to-GDP ratio improving to 71.4% in 2023.