The Bank of Ghana (BoG) has announced that Ghana’s external buffers have received a significant boost, with gross international reserves rising to over US$11.41 billion.
The Governor of the Central Bank, Dr Johnson Asiama, revealed the latest figures at the opening of the Monetary Policy Committee (MPC) meeting, describing the development as a strong sign of improving economic stability.
According to him, the current reserve level is equivalent to 4.8 months of import cover, a performance he says positions the country more securely against external shocks.
“Our gross reserves have now exceeded US$11 billion, giving us about 4.8 months of import cover.
“We are confident that by the end of the year, we will reach the five-month mark,” Dr Asiama stated.
The Governor noted that the buildup in reserves reflects deliberate policy actions aimed at strengthening the cedi and improving Ghana’s balance of payments position.
“These gains are not accidental; they are the result of sustained efforts to stabilise the currency, manage liquidity, and improve our external sector performance,” he stated.
Dr. Asiama added that the MPC will continue to monitor economic indicators closely to ensure the momentum is maintained.
“We remain committed to safeguarding macroeconomic stability and providing guidance that supports growth while protecting the resilience we are building,” he said.
The ongoing MPC meeting is expected to assess recent economic trends and announce key policy decisions in the coming days.
BoG warns of fragile global environment
The BoG Governor, Dr Asiama, cautioned that the international economic landscape remains unstable, urging Ghana and other emerging markets to stay vigilant.
He highlighted the growing uncertainties shaping the world economy.
“Global environment remains fragile, and we must remain alert to the risk,” he warned.
Dr Asiama explained that global pressures continue to mount, driven by several developments that policymakers must pay close attention to.
“Taking about commodity prices swings, geopolitical tensions and tighter financial conditions,” he noted, these factors create ongoing risks that could spill over into vulnerable economies.
Dr Asiama emphasised that such external shocks require proactive monitoring and disciplined policy management to safeguard Ghana’s economic stability.
He assured that the Bank of Ghana will continue to track global trends closely and adjust its policy stance where necessary to protect the domestic economy.
