Dr. Johnson Asiama, Governor, Bank of Ghana at the Ghana Association of Banks Industry Thought Leadership Event under the theme: “Banking the Last Mile: An Industry-Led Strategy for Accelerating Digital Finance” held on Tuesday, June 17, 2025 has disclosed that The Bank remains committed to a flexible exchange rate regime, one that is anchored in fundamentals, responsive to shocks, and supported by credible policy tools.
according to him, the Central Bank remains vigilant and fully prepared to act in a timely and measured manner to preserve orderly market conditions and safeguard the broader macroeconomic stability necessary for financial innovation and inclusion to thrive.
He, however, cleared the air that the bank is not pursuing a rigid exchange rate target or a predetermined band.
On stabilization of the Cedi, Dr. Johnson Asiama said, “as we deepen our collective efforts to accelerate digital finance, I understand that many are watching the macroeconomic landscape closely, particularly the performance of the Ghana cedi”. He reaffirmed that the recent stability of the exchange rate is not accidental, nor is it the result of artificial interventions. Rather, “it reflects the cumulative impact of sound monetary policy, enhanced transparency in the foreign exchange market, and improved external sector fundamentals”.
To him, Bank of Ghana has adopted a disciplined, market-oriented approach, reducing its reliance on reserves and instead leveraging a more efficient FX auction framework, enhanced market surveillance, and stricter alignment of foreign exchange demand with real-sector transactions.
“These measures have curtailed speculative pressures and ensured that foreign exchange flows reflect legitimate trade, investment, and remittance activity. In parallel, the macro-fiscal adjustment being implemented under the IMF-supported programme is yielding results, fiscal discipline is restoring credibility, and external financing flows have improved.
Combined with sustained disinflation, positive real interest rates, and resilient export and remittance inflows, these developments have anchored expectations and restored confidence in the currency’s value”.
He asked the forum to serve not only as a venue for exchange but as a launching pad for measurable outcomes as he leaves here with a unified agenda: To rebuild trust through transparency and inclusion; To embed value in every digital interaction not just efficiency; And to make Ghana’s digital finance ecosystem not just a model for Africa, but for the world. Before I conclude, let me briefly address a matter on the minds of many—the evolving geopolitical tensions in the Middle East, particularly the Iran–Israel conflict.
“While the Bank of Ghana is closely monitoring the situation and its potential impact on global energy markets, supply chains, and investor sentiment, I wish to assure the public that Ghana’s macroeconomic buffers are stronger today than they have been in recent years. Our foreign reserve position, inflation trajectory, and fiscal adjustment efforts provide a solid cushion. We are also actively engaged with our international partners to remain responsive to any external shocks. The Bank stands ready to take prudent and pre-emptive measures to preserve Ghana’s economic stability and protect the progress we have made”.
