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World Bank Says Cedi Worst Currency In Q2 2026

The Ghanaian cedi was ranked as Africa’s worst-performing currency in the second quarter of 2026, according to a new World Bank report on African economies. The report indicates that the cedi depreciated sharply against the US dollar between April and June 2026, underperforming all other major African currencies during the period under review.

According to the World Bank’s Africa Pulse assessment, the cedi’s depreciation was driven by high demand for foreign exchange, reduced cocoa export inflows, and investor concerns over Ghana’s debt sustainability and fiscal pressures. The Bank noted that despite recent IMF support and reforms by the Bank of Ghana, the cedi lost over 15 percent of its value in Q2 alone, making imports more expensive and fueling inflationary pressures.

The World Bank’s findings contrast sharply with recent claims by government communicators that the cedi had stabilized under President John Mahama’s economic recovery programme. The report warns that currency volatility could undermine Ghana’s growth projections for the second half of 2026 if foreign reserves are not shored up and export earnings improved. It called for tighter monetary policy and enhanced transparency in forex allocation.

Economists have reacted with concern, saying the worst-performing tag could affect investor confidence and increase the cost of doing business in Ghana. Some analysts argue that the Bank of Ghana’s recent arrest of money bouquet vendors and clampdown on black market operators will not be enough to save the cedi without structural reforms to boost cocoa, gold and manufacturing exports.

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The Bank of Ghana is yet to officially respond to the World Bank ranking, but sources indicate the central bank will address the cedi’s performance at its next Monetary Policy Committee meeting. Meanwhile, businesses and traders in Accra and Ho are already feeling the pinch as the dollar rises and import costs surge ahead of the Christmas season.

Howedey.com will keep tracking the cedi’s performance and bring you verified updates from the Bank of Ghana and World Bank reports.

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Author: Stella Sunu • Published on Howedey.com

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