President John Dramani Mahama has reaffirmed his administration’s commitment to safeguarding the independence of the Bank of Ghana, describing a strong and professionally insulated central bank as essential to Ghana’s economic future.
Speaking at the opening of the Cedi@60 International Currency Conference in Accra, the President said the anniversary provided an important point of reflection for the country’s monetary direction.
He noted that since its introduction in 1965, the cedi has served not only as a medium of exchange but as “a declaration of independence, our identity, and the capacity of our state.”
The President stressed that Ghana’s economic recovery depends on credible and disciplined institutions. He said “a strong and autonomous central bank is essential for anchoring inflation expectations, for maintaining exchange rate stability, and for enhancing investor and market confidence.”
He pointed to recent reforms and improvements in the macroeconomic environment, including Ghana’s latest rating. According to him, “Ghana’s sovereign rating by S&P was upgraded recently to B minus with a stable outlook,” a development he described as an important sign of renewed credibility.
President Mahama urged the central bank to intensify national education on currency use. He said promoting the exclusive use of the cedi, proper handling of banknotes and wider financial literacy were central to protecting the currency’s integrity. “Using the national currency strengthens economic stability and reduces unnecessary exposure to exchange rate volatility,” he said.
He commended the Bank of Ghana and Currency Research for assembling global leaders in currency management, noting that their deliberations would shape the evolution of money in an era of rapid payment innovation.
He formally declared the two-day conference open, saying the cedi at sixty is “more than just a celebration” and must serve as “a moment for analysis” on how the currency should be fortified for the future.
