The International Monetary Fund (IMF) will examine the recent currency gains during future reviews of the country’s economic reform agenda under the Extended Credit Facility (ECF).
The cedi has posted notable appreciation against major foreign currencies in recent weeks, reversing a trend of persistent depreciation.
Speaking at a press briefing in Washington, IMF Communications Director Julie Kozack stated that the Fund is closely tracking all key macroeconomic indicators, including exchange rate movements, to ensure that Ghana’s economic targets remain on course.
“As we look at the programme, we assess all developments including the exchange rate. Future programme reviews will allow our teams to carefully evaluate the evolving macroeconomic and financial conditions and confirm whether the programme’s targets remain appropriate and achievable,” Kozack said.
The strengthening of the cedi comes amid renewed investor confidence and improved foreign exchange inflows, but market analysts say sustained gains will depend on continued fiscal discipline and robust reforms under the IMF-supported programme.