Finance Minister Cassiel Ato Forson told lawmakers the cedi will stay strong against other world currencies. He said the Ghana Gold Board sends foreign money directly to the central bank to build up reserves. The government wants to lower inflation and create more jobs for people. Forson spoke during talks about new energy taxes on Wednesday. He promised the currency would keep doing well under the current administration.
The Gold Board bought 11.4 tons of gold during May and earned 1.2 billion dollars for the country. The central bank uses this money to support the cedi when needed. Forson said prices have started falling and inflation keeps dropping across Ghana. He rejected claims that spending cuts caused the stable exchange rate. The minister said smart financial changes created the currency stability people see today.
The Gold Board bought 11.4 tons of gold during May and earned 1.2 billion dollars for the country. The central bank uses this money to support the cedi when needed. Forson said prices have started falling and inflation keeps dropping across Ghana. He rejected claims that spending cuts caused the stable exchange rate. The minister said smart financial changes created the currency stability people see today.
