Minister for Finance, Dr. Cassiel Ato Forson, has asserted that the recent appreciation of the Ghanaian Cedi is no accident but rather the result of deliberate fiscal policies and significant inflows, particularly from gold.
He emphasized that the government’s strategic focus on the gold sector is already yielding positive results. According to Dr. Forson, as of May 13, 2025, the Cedi has strengthened by approximately 16.7% against the US Dollar.
In a bid to set the record straight amidst growing claims that escalating trade tariffs are weakening the dollar, Dr. Forson emphasized the crucial role of fiscal discipline, sound monetary policy, and increased inflows from gold, cocoa, and remittances in bolstering the Cedi’s performance
“This turnaround is no accident. It reflects strong coordination between monetary and fiscal policy, improved inflows from gold, cocoa, and remittances, and firm discipline in managing the public purse,” he asserted.
Dr. Forson made these remarks during the inauguration of the 13-member Board of Directors of the Ghana Gold Board, chaired by Mr. Kojo Fynn.
He urged the board to diligently pursue their objectives in strengthening Ghana’s gold trade and supporting the broader economic recovery.
“On behalf of H.E. the President, I congratulated the members and charged them to deliver on their critical mandate to help strengthen Ghana’s gold trade, improve transparency, and support our broader economic recovery efforts,” he stated.
Dr. Forson also touted the institution’s achievements and assured Ghanaians of continued progress toward the nation’s economic transformation agenda.
“The Ghana Gold Board will be key to sustaining this progress and ensuring the sector contributes even more meaningfully to our economic transformation. I am confident the new board, under the able leadership of Mr. Kojo Fynn, will discharge its duties with integrity, professionalism, and a deep sense of national responsibility,” he said
The Ghana Gold Board (GoldBod) was established in 2025 under Act 1140 of Parliament to oversee, regulate, and engage in activities related to the buying, selling, assaying, refining, exporting, and other operations concerning gold and precious minerals in Ghana.
In accordance with Section 78 of Act 1140, GoldBod assumed the rights, responsibilities, assets, liabilities, and staff of the Precious Minerals Marketing Company (PMMC) Limited, an entity that evolved from the former Ghana Diamond Marketing Board.
As the sole mandated authority, GoldBod is empowered to license all individuals and entities involved in gold trading and related activities in Ghana, including aggregation, purchasing, smelting, and refining.