Ghana’s foreign exchange reserves are projected to reach five months of import cover by the end of 2025, Bank of Ghana (BoG) Governor Dr. Johnson Pandit Asiama said Monday, highlighting continued resilience in the country’s external position.
Gross reserves currently stand at US$11.41 billion, equivalent to 4.8 months of import cover, supported by robust trade inflows, increased confidence in the cedi, and operational reforms in the foreign exchange (FX) market, Asiama said.
“The cedi has demonstrated resilience in 2025, supported by improved confidence, strong operational reforms in the FX market, and robust trade and reserve inflows. Gross reserves have risen to US$11.41 billion, equivalent to 4.8 months of import cover, and are projected to reach 5 months by year-end,” he said.
Dr. Asiama linked the growing reserves to broader economic recovery, noting that inflation has eased to 8 percent with core inflation at 5–7 percent, while GDP expanded 6.3 percent in the first half of the year and non-oil GDP surged 7.8 percent.
The governor said the improved external buffers are part of Ghana’s broader macroeconomic turnaround, reflecting fiscal discipline, a cautious monetary stance, and structural reforms, including improvements in FX operations and reserve management.
He emphasized that stronger reserves provide a cushion against global shocks, stabilize the cedi, and support ongoing economic growth.
Dr. Asiama also underscored the BoG’s focus on ensuring financial sector stability, effective credit transmission, and continued reform of the FX market, all essential to sustaining momentum in the real sector.
