Finance Minister Ato Forson Urges Traders to Lower Prices Amid Cedi Stability
Cedi Gains Not a Fluke – Finance Minister Asserts
Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has urged traders and business owners to reduce prices of goods and services to reflect the cedi’s recent appreciation and relative stability. He clarified that the improvement is a result of sound economic policies, not a temporary spike.
Meeting with FABAG: Urging Action
During a meeting with the Food and Beverage Association of Ghana (FABAG) on May 8, 2025, Dr. Forson emphasized the need for businesses to pass on the benefits of currency stability to consumers, particularly with essential commodities like food.
Cedi Now Stronger – Traders Must Respond
Dr. Forson pointed out that the Ghanaian cedi has strengthened from over GH¢16 to GH¢13.29 per US dollar, citing this as a sign of prudent fiscal management. He encouraged other trade groups such as GUTA to join FABAG in reducing prices.
FABAG Leads Price Reduction Drive
FABAG has already responded, with sugar prices down by 7% and rice by 10%. The association’s president, John Awuni, has called for a national campaign to ensure consumers benefit from the economic gains.
Addressing Structural Price Drivers
The Finance Minister acknowledged persistent structural issues—such as high port charges and taxes—that inflate prices. He assured stakeholders that the government is working to address these challenges to ensure lasting affordability.
Commitment to Sustained Stability
Dr. Forson concluded by reaffirming the government’s commitment to maintaining macroeconomic stability and ensuring that its benefits are felt by ordinary Ghanaians.
Also Read: Ghanaian Cedi Emerges as World’s Best Performing Currency in April 2025 – Bloomberg Reports
