President John Mahama has weighed in on the ongoing debate about the value of the cedi, Ghana’s currency, suggesting that allowing it to weaken to 4 to the dollar would negatively impact exports. In a recent statement, Mahama argued that the cedi’s true value lies somewhere between 10 and 12 to the dollar, a range he believes is crucial for maintaining a healthy balance between the interests of importers and exporters.

Mahama’s comments highlight a long-standing concern in Ghana’s economic policy: how to manage the cedi’s value to support both domestic industries and international trade. A weaker cedi can make exports more competitive, boosting revenue for Ghanaian businesses selling goods abroad. However, it also increases the cost of imports, which can drive up inflation and hurt consumers.

The president’s assertion that the cedi’s “true value” is between 10 and 12 to the dollar suggests a belief that this range would provide the optimal conditions for economic growth. This valuation, he implies, would prevent the export sector from being undermined while still allowing importers to operate without crippling costs. The debate over the cedi’s value is likely to continue as Ghana navigates the complexities of global trade and economic stability.