Ghana’s Gross International Reserves (GIR) have grown to USD 14.47 billion, providing an import cover of 5.8 months.
This means that for nearly half a year, the country could fully finance its imports of goods and services without needing additional foreign inflows, offering a strong buffer against external shocks and supporting confidence in the Ghanaian cedi.
This is impressive, as the Bank of Ghana data shows that at the start of 2025, or in the first quarter, Ghana could only cover roughly 4.2 months of imports with its reserves.
Following through 2025, there has been steady growth in both reserves and import cover, with GIR rising from USD 9.43 billion in February 2025 to USD 13.83 billion in December 2025, and import cover increasing from 4.2 months to 5.7 months.
This trend reflects sustained export performance, inflows from private transfers, and prudent reserve management.
What is also particular is the composition of commodities contributing to this growth. Gold remains the dominant export earner, accounting for USD 4.26 billion of February 2026 exports, while cocoa and oil exports contributed USD 0.96 billion and USD 0.45 billion, respectively.
These inflows have strengthened Ghana’s external sector and positioned the country to maintain a robust reserve buffer in the coming months.
