According to Finance Minister Ken Ofori-Atta, Ghana’s economy is truly recovering as seen by the cedi’s stability.
The cedi’s stability in relation to the US dollar in June and July of 2023 suggests that Ghana has benefited from the International Monetary Fund (IMF) program.
Ofori-Atta stated, “The performance of the cedi is also a reflection that confidence is back, revenues have improved, and that the recovery is indeed real and here to stay,” during her presentation of the 2024 Budget Statement in Parliament on Wednesday, November 15, 2023.
“In the mid-year review, I informed the House that we have started turning the corner. Today it is evident that we have turned the corner when inflation started declining from 54.1% in December 2022 to 35.2% in October 2023.”
“The Akufo-Addo government is determined to maintain the discipline, compassion and creativity required to keep the economy stable and maintain the robust growth,” the Finance Minister said.