Ghana reserves hit $14.5bn as economy shows stronger momentum – Dr. Asiama

Governor of the Bank of Ghana, Johnson Pandit Asiama, says Ghana’s international reserves have risen to $14.5 billion as economic activity strengthens.

Opening the 129th Monetary Policy Committee meeting, Dr. Asiama said recent economic indicators suggest Ghana’s economy is gaining stronger momentum.

He disclosed that the country’s gross international reserves have increased significantly since the committee’s previous meeting earlier this year.

“Gross international reserves now stand at about US$14.5 billion, equivalent to 5.8 months of import cover,” Dr. Asiama said.

According to him, the latest figure marks an improvement from the approximately 13.8 billion dollars recorded during the committee’s January meeting.

The governor explained that the growth in reserves reflects stronger external buffers and improving macroeconomic conditions.

He noted that beyond the reserve accumulation, the real sector of the economy is also showing encouraging signs of expansion.

“The real economy is also showing stronger momentum,” Dr. Asiama stated, highlighting improvements in several key indicators.

He said the Composite Index of Economic Activity expanded by 8.4 percent year-on-year at the start of 2026, driven by stronger bank credit, industrial output, trade activity and household consumption.

These developments, he explained, have also helped boost confidence among businesses and consumers.

“Consumer and business confidence rose in February 2026, supported by easing inflation,” he added.

Dr. Asiama indicated that the improving economic indicators suggest Ghana’s stabilisation process is progressing faster than many analysts previously expected.

“Taken together, these indicators point to an economy stabilising more rapidly than many had expected,” he noted.

Despite the positive developments, the governor cautioned that the global economic environment remains uncertain, particularly due to geopolitical tensions in the Middle East.

He explained that disruptions to key energy and shipping corridors have increased volatility in global oil markets, which could influence inflation dynamics in countries that rely heavily on imports.

Dr. Asiama stressed that the Monetary Policy Committee would carefully assess both domestic economic gains and global risks as it deliberates on the appropriate policy direction in the coming months.