No Government Contracts in Foreign Currency from July 2025, Announces President Mahama
Accra: President John Dramani Mahama has mandated that starting July 24, 2025, no government contracts will be awarded in foreign currency, regardless of the funding source. This directive aims to stabilize the national currency, the cedi, and address fiscal management risks. According to Ghana News Agency, Dr. Ato Forson, the Minister of Finance, highlighted the significant risks associated with pricing goods and services and awarding contracts in foreign currency. He emphasized that these practices could undermine the stability of the cedi. Dr. Forson presented this concern while delivering the 2025 Mid-Year Budget Review in Parliament under the theme ‘Resetting the