According to Bank of Ghana Ernest Addison’s report at the monetary policy committee meeting on Monday, May 22, 2023, the local currency had some increases amid “positive sentiments” about economic prospects.
He pointed out that in March 2023, the Ghana cedi fell by 1.9%, and in April, it rose by 0.6%. He stated that the “marginal recovery” was “supported by the successful completion of the DDEP, progress made with Ghana’s external debt restructuring towards attainment of the IMF programme, weakening US dollar, and muted demand pressures.”
