Forget the external factors and political explanations—a top U.S.-based economist says the cedi's remarkable comeback in 2025 had one primary driver, and it was right under our noses the whole time. Dr. Dennis Nsafoah , a monetary economist teaching at Niagara University in New York, has delivered a clear verdict on what powered the Ghanaian cedi's impressive appreciation last year: the Bank of Ghana's monetary policy  was the star of the show. According to his analysis, the