Member of Parliament for Okaikwei Central Constituency in the Greater Accra Region, Patrick Yaw Boamah, has highlighted the notable appreciation of the Ghanaian cedi against the US dollar in April 2025, attributing the development to global economic trends and local fiscal interventions.

In a statement issued on Thursday, the MP pointed out that emerging market currencies have experienced substantial gains against the US dollar over the past two months, with the US dollar index falling by 4.7% in April alone.

Among the currencies that have appreciated against the greenback are the euro, pound sterling, Australian dollar, Chinese yuan, and several others, driven largely by ongoing US-China trade tensions, shifts in US Federal Reserve policy, and growing investor confidence in emerging markets.

“The Ghanaian cedi has gained about 6.82% against the US dollar in April 2025, with the exchange rate dropping from GHS 15.49510 to GHS 14.43811 per USD as of the end of the month,” Mr. Boamah noted.

He cited multiple factors contributing to the cedi’s strength, including:

A weakening US economy amid prolonged tariff disputes;

Delayed fiscal payments in Ghana which have constrained local spending.

An injection of approximately $1 billion into the economy by the Bank of Ghana, sourced in part from the International Monetary Fund (IMF).

Mr. Boamah expressed optimism that the cedi’s recent performance would support business confidence, planning, and predictability, especially for both local entrepreneurs and international investors.

However, he stressed the need for continued reforms to sustain the gains.

“A lot more has to be done in the area of revenue mobilisation, and strict enforcement of some policies by the Central Bank,” he stated.