Cedi ‘No apicki’, but Abochi Get Dollar—Minority Rebuts Govt
The Minority in Parliament has disputed Finance Minister Cassiel Ato Forson's declaration that the Ghanaian cedi is appreciating (“cedi no apicki”). They warned that forex scarcity persists, with dollars only available via high-rate brokers, known locally as "Abochi." What We Found At the 2025 Mid-Year Budget Review on July 24, Dr. Forson stated that the cedi was gaining strength and holding firm against major currencies. In response, on July 29, Minority Leader Dr. Mohammed Amin Adam (Karaga MP and former Finance Minister) rejected that portrayal. He cited widespread dollar shortages, stealth interventions by the Bank of Ghana, and a high rate gap—interbank rates at GHC 10 vs. over GHC 13 at forex bureaus. “Cedi no apicki, but Abochi get the dollar,” he quipped. Dr. Adam also noted recent IMF disclosures indicating the Bank of Ghana had injected US$1.4 billion into the foreign exchange market […]