Ghana’s central bank Governor, Johnson Pandit Asiama, has told business leaders that monetary policy actions taken to stabilise the economy have bolstered the banking sector and will support increased credit flow to the private sector.
Speaking at the Kwahu Business Forum Governor’s Roundtable on Sunday, Dr Asiama highlighted Ghana’s improved macroeconomic performance in 2025, including a stable exchange rate and a sharp decline in inflation. Ghana’s headline inflation eased to 5.4 per cent in December 2025, down from much higher levels the previous year, driven by tight monetary policy and stabilisation efforts by the Bank of Ghana.
“The Cedi is stable and under control,” Dr Asiama said, noting that achieving currency and price stability required significant liquidity management operations. “Last year was good but expensive for the central bank. It took us a lot of money to mop up excess liquidity and bring inflation down,” he said.
Dr Asiama said the heavy cost of draining excess liquidity through open market operations and other policy actions was necessary to anchor inflation expectations and help restore confidence in the economy. Analysts have described Ghana’s macroeconomic rebound in 2025 as a coordinated policy success, with inflation, interest rates and the currency stabilising after years of volatility.
Looking ahead to 2026, Dr Asiama expressed confidence that maintaining stability will require fewer resources than in the previous year, given the progress achieved. He also emphasised the critical role of a strong financial sector in supporting business growth, saying, “When banks are strong, they can give more credit,” which he said would be key to expanding private sector activity.
The Governor’s remarks come amid broader signs of economic improvement. Data from the Ghana Statistical Service show continued growth in economic activity, particularly in services and industry, pointing to a strengthening economic performance.
The Kwahu Business Forum, held from April 3 to 5, brought together business owners, investors, policymakers and development partners to discuss policies aimed at stimulating growth and strengthening Ghana’s economic landscape.
