Ghana’s reserves hit $10.7 billion
Ghana’s Gross International Reserves (GIR) rose significantly to $10.7 billion as of end-April 2025, representing 4.7 months of import cover.
This was as a result of the country’s strong external sector performance, which saw notable improvements during the first quarter of the year.
The Governor of the Bank of Ghana (BoG), Dr Johnson Asiama, disclosed this at the 124th Monetary Policy Committee (MPC) press briefing on Friday.
He said Ghana recorded a provisional current account surplus of $2.1 billion in Q1 2025, mainly driven by elevated commodity prices and increased production volumes of gold and cocoa.
Strong remittance inflows also played a key role in boosting external earnings.
“The current account surplus, combined with net outflows in the capital and financial account, yielded an overall Balance of Payments surplus of $1.1 billion,” Dr Asiama stated, adding that the performance significantly contributed to reserve accumulation.
He further indicated that the outlook for the external sector remains broadly favourable, backed by expectations of continued growth in gold and cocoa export receipts and steady inflows from the Ghanaian diaspora.
The positive developments in the country’s external position come amid efforts by the central bank and the government to stabilise the macroeconomy and build foreign exchange buffers to withstand external shocks.
