Governor of the Bank of Ghana, Dr. Johnson Asiama, has pledged responsible management of the country’s international reserves to maintain economic stability and bolster market confidence.
Dr. Asiama said that the Bank has developed a projected cash flow plan to anticipate foreign exchange needs up to two years ahead. This plan, he said, ensures that Ghana can meet external payment obligations without strain.
As of February 2025, Ghana’s international reserves stood at $9.2 billion, considered a record high.
The IMF has confirmed that this level exceeds the country’s requirements ahead of the completion of its IMF program in May 2026.
Despite this positive outlook, some analysts have raised concerns that the Central Bank may face pressure to defend the cedi or respond to government demands for payments, both of which could reduce reserve levels.
Dr. Asiama acknowledged these risks but insisted the Bank of Ghana is fully aware of the implications.
He emphasized that maintaining strong reserves is critical to market confidence and assured that the Central Bank will do everything necessary to protect the current buffer.
Nonetheless, industry observers have attributed the recent stability of the cedi in part to this solid reserve position.
