• The Cedi at Sixty and the Case for Resource-Backed Money

    Author(s):

    Yegandi Imhotep Paul Alagidide


    ipalagidede@ug.edu.gh
    2026-03-07 16:27:27

    1 Downloads 3 Views

    Abstract

    The Ghanaian currency, the Cedi, turns sixty in 2025, yet public discourse surround ing its performance and prospects remains largely superficial. Much of what is known about the Cedi is mediated through undigested econometric studies, episodic media re ports, speculative commentary, and periodic central bank statements—none of which are anchored in analytical or empirical inquiry. This absence of grounded scholarship has produced a cyclical narrative that simply rehearses inherited monetary logics, leav ing fundamental blind spots unchanged and allowing existing weaknesses to persist unchallenged. This article departs from these monotonic interpretations by situating the Cedi as an emblem of postcolonial sovereignty, institutional fragility, and con strained economic development. We critique dominant fiat-based arrangements and advance an alternative paradigm: Resource Based Monetary Sovereignty (RBMS) and Endogenous Resource Backed Currencies (ERBC). We argue that Ghana’s extensive resource endowments, particularly agricultual wealth, indigenous capital and critical minerals, offer an underutilised base for currency stability, domestic capital mobilisa tion, and monetary autonomy. Using archival materials and macroeconomic data, the article demonstrates that monetary credibility depend on transcending orthodox con ventions and embracing resource-anchored monetary design. The future of the Cedi, we contend, lies in a reconfiguration of what the currency represents: value derived from endogenous wealth, institutional realism, and sovereign economic purpose.

    Keywords
    Cedi; Money; Sovereignty; Resource Based Money; Ghana

    Email it to me(Requires login) Download this PDF file
Top