‘Let’s pray for the world’s worst-performing currency, the Cedi’ — Dr. Zaato to Ghanaians

Policy analyst and Senior Political Science Lecturer at the University of Ghana, Dr. Joshua Jebuntie Zaato, has reacted to a Bloomberg report that ranked the cedi as the world’s worst-performing currency in the third quarter of 2025.

The policy analyst who have been critical of what he deemed an artificial appreciation in recent times, urged Ghanaians to turn to prayer as the local currency continues to depreciate sharply against major foreign currencies.

In a social media post on Friday, September 5, Dr. Zaato wrote: “This morning, go on your knees and say a prayer for the worst-performing currency in the world, the cedi. After that, give time, some time.”

Meanwhile, Dr. Zaato earlier expressed concern about what he described as the growing scarcity of dollars in the country.

He said the shortage is hitting traders hard as many cannot access the foreign exchange needed to support their businesses.

According to him, commercial banks are also struggling to meet demand despite several applications for allocation.

“Right now, there is a big scarcity of dollars in the market. Traders are crying. People are crying. The commercial banks say they don’t have. In fact, the amount of dollars they applied for, they didn’t get half of it,” he said on Joy News’ AM Show.

He further explained that the situation is creating multiple exchange rates, forcing both citizens and traders to rely heavily on the black market.

The development, he noted, validates repeated warnings by economists and international bodies about the Bank of Ghana’s alleged interference in the forex market.

“A lot of economists and policy think tanks have been warning that the state of the dollar-to-cedi is artificial. It’s being manipulated by the Bank of Ghana, and now we are seeing the shortage,” he stressed.