The Bank of Ghana (BoG) says Ghana’s strong foreign exchange reserves are providing the country with an important cushion against global economic shocks, even as uncertainty continues to cloud the international economy.

Governor of the Bank of Ghana, Dr Johnson Pandit Asiama, disclosed that the country’s reserves currently stand at about US$12.9 billion, enough to cover approximately five months of imports.

According to him, the strong reserve position is helping the central bank maintain stability in the foreign exchange market and respond to external pressures.

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“These reserves give us a strong buffer against external shocks and help the Bank of Ghana support stability in the foreign exchange market,” he said.

Dr Asiama made the remarks at a stakeholders’ conference in Sunyani on August 9, 2026, where he outlined developments in Ghana’s economy and cautioned economic managers against becoming complacent over the progress recorded so far.

He also noted that Ghana’s external sector has remained resilient, with strong performances in gold and cocoa exports contributing to a higher trade surplus in the first half of the year.

The Governor, however, acknowledged that rising global oil prices had pushed up the country’s import bill.

Despite these pressures, he said Ghana’s external position remained strong enough to provide some protection against developments outside the country.

Dr Asiama also addressed recent movements in the cedi, explaining that the local currency came under pressure earlier in the year amid global developments, including the conflict in the Middle East.

He said the cedi has since recovered, adding that the central bank remains focused on ensuring stability in the foreign exchange market.

“We remain committed to maintaining an orderly and well-functioning foreign exchange market,” he said.

Dr Asiama warned that the global economic environment remains unpredictable and that Ghana could still be affected by events beyond its borders.

“That is why the Bank of Ghana will continue to take decisions that protect the value of the cedi, keep inflation low, preserve financial stability and support sustainable economic growth,” he said.

He stressed that maintaining macroeconomic stability remains critical to creating an environment in which businesses and households can make long-term decisions with greater certainty.

“Our goal is simple: to create an economic environment where businesses can grow with confidence, households can plan for the future, and every Ghanaian can share in the benefits of a stable and growing economy,” he added.

ANAS/MA

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