Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has credited the government’s GoldBod initiative for playing a crucial role in stabilising the cedi in recent months.
Speaking at the swearing of the Board Members of the Ghana Gold Board in Accra on Monday, the minister said the GoldBod have been effective in reducing the pressure on Ghana’s foreign exchange reserves and curbing volatility in the currency market.
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According to the minister, the intervention has not only enhanced confidence in the Ghanaian economy but has also provided a buffer against external shocks, including rising global commodity prices.
Analysts say the programme’s success could serve as a model for other resource-rich African economies seeking to insulate their currencies from global market disruptions.
