Dr Daniel Armateye Anim is a business strategist and financial analyst

Business strategist and financial analyst Dr Daniel Armateye Anim has projected that the cedi may continue to appreciate against the US dollar into the third quarter of 2025.

According to him, the cedi’s current strength can largely be attributed to the ongoing global trade war, which has impacted economic flows, particularly in ways that have benefited Ghana.

In an interview with GhanaWeb Business, Dr Anim emphasised the significant impact the cedi’s performance could have on the broader economy.

He explained that the appreciation should not be misinterpreted as a sign of long-term strength. Instead, he urged the Bank of Ghana and the Ministry of Finance to take advantage of the current situation to boost foreign exchange reserves and attract more capital inflows.

“It is possible that the cedi may further appreciate into the third quarter of the 2025 fiscal year. This is mainly due to the ongoing global trade war, but it is a short-term mechanism that should be well understood by the Bank of Ghana and the Ministry of Finance. We need to leverage this to consolidate the gains by strengthening our reserves at the Bank of Ghana and ensuring we attract more inflows,” he said.

Dr Anim further warned that the cedi may begin to depreciate in the fourth quarter of 2025, citing several factors, including the resumption of debt repayments in 2026, which could put significant pressure on the central bank’s reserves.

“The fourth quarter is a peak season for traders and businesses to import more goods into the economy. As a result, there will be increased demand for the dollar, which will likely affect the Bank of Ghana’s reserves and, in turn, impact the value of the cedi,” he added.

SP/MA

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