Ghana's external financial buffers have seen a notable increase, with the country's gross international reserves rising to over $11.41 billion, according to the Bank of Ghana (BoG).
The announcement was made by Dr. Johnson Asiama, Governor of the Central Bank, during the opening of the Monetary Policy Committee (MPC) meeting. He described this development as a positive indicator of the country's improving economic stability.
Dr. Asiama confirmed that the current reserve level equates to 4.8 months of import cover, a performance that he believes better positions Ghana to withstand external economic shocks. "Our gross reserves have now exceeded $11 billion, giving us approximately 4.8 months of import cover," he stated. "We are confident that by the end of the year, we will reach the five-month mark."
The Governor emphasized that the growth in reserves was the result of intentional policy measures aimed at strengthening the cedi and improving the country’s balance of payments position. "These gains are not coincidental," he remarked. "They stem from sustained efforts to stabilize the currency, manage liquidity, and enhance our external sector performance."
Dr. Asiama also highlighted that the MPC will continue to monitor key economic indicators to ensure the country maintains its positive momentum. "We remain committed to safeguarding macroeconomic stability and implementing policies that support growth while ensuring the resilience we are building is preserved," he added.
The ongoing MPC meeting is expected to assess recent economic trends and announce further policy decisions in the coming days.
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