Financial analyst Joe Jackson has cautioned Ghanaians against expecting an immediate drop in prices despite the recent strong performance of the Ghanaian cedi against the US dollar.

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Speaking on Marketplace on JoyNews, the Chief Executive Officer of Dalex Finance acknowledged the significance of the cedi’s appreciation but urged Ghanaians to exercise patience as the economy gradually recovers from its recent challenges.

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“Too early to demand prices go down. It will take some time. We are coming out of a national crisis,” he stated, underscoring that while the exchange rate gains are notable, their trickle-down effects on the cost of living will not be instant.

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Ghana’s cedi has been recognised by Bloomberg as the world’s best-performing currency, having appreciated nearly 16% against the US dollar since April 2025. It is currently trading at GH₵13.70 to the dollar—a sharp improvement that many hope signals a broader economic recovery.

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Jackson described the development as a "welcome break" from the financial strain Ghanaians have endured. “Appreciation of the cedi and the stability alone has me excited,” he said. “We are clawing back the devastating effect on our purchasing. That can’t be a bad thing. Let’s pray it continues.”

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He credited both global and local factors for the cedi’s performance. While external influences such as falling petroleum prices, a weaker dollar, and rising global interest in gold played a part, he stressed that Ghana’s internal policies have been equally critical.

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“It is not external factors alone,” he noted. “The internal commitment by the government to be fiscally disciplined is also a factor.”

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According to Jackson, the government and the Bank of Ghana deserve credit for policies that have helped restore confidence in the local currency, including expenditure controls and stable monetary measures.

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Still, he warned of potential risks. “Definitely there are risks to the cedi’s sharp appreciation, but at this moment the stars have aligned and put us in a good place,” he said.Meanwhile, an economics lecturer at the University of Ghana, Professor William Baah Boateng, has called on importers and traders to reflect the recent appreciation of the Ghanaian cedi in the pricing of goods and services.

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While improved exchange rates are expected to eventually boost banking liquidity and support the private sector, Jackson called for Ghanaians to manage their expectations.Governor of the Bank of Ghana, Dr Johnson Asiama, has assured that the days of sharp and unpredictable swings in the value of the Ghanaian cedi are gradually fading, crediting this to improved inflows and ongoing reforms in the foreign exchange market.

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Reflecting on the broader picture, he stated confidently, “All I can tell you at this point is the days of excessive volatility of the cedi are certainly coming to an end.”

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As the country navigates a post-crisis economic path, experts like Jackson are encouraging both hope and caution—acknowledging progress while reinforcing the need for patience and sustained reforms.

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