Ghana’s External Sector Shows Strength as Reserves Hit $10.7 Billion

Ghana’s External Sector Shows Strength as Reserves Hit $10.7 Billion – Bank of Ghana

The Bank of Ghana (BoG) has highlighted a strong and optimistic outlook for the country’s external sector, driven by solid performance in key export areas and sustained remittance inflows. These findings were detailed in the Central Bank’s latest Monetary Policy Report.

In the first quarter of 2025, Ghana recorded a provisional current account surplus of US$2.1 billion. This improvement is largely attributed to rising global commodity prices, higher export volumes of gold and cocoa, and steady remittance inflows.

Despite net outflows in the capital and financial accounts, the country achieved an overall Balance of Payments (BoP) surplus of US$1.1 billion during the same period.

This positive trend has also led to a marked increase in the nation’s Gross International Reserves, which reached US$10.7 billion as of April 2025. This amount provides approximately 4.7 months of import cover for goods and services.

The BoG credits this progress to the global economic recovery and enhanced domestic production in key sectors, reinforcing confidence in the country’s external financial position.

Source: MyJoyOnline

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