The Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, has stated that the country’s macroeconomic outlook continues to strengthen, with inflation dropping significantly and external buffers gaining momentum.

Speaking at a press briefing in Accra on 26 January 2026, Dr. Asiama revealed that inflation fell to 5.4% by the end of 2025, with expectations remaining well anchored.

He also noted that Ghana’s gross international reserves had risen to US$13.8 billion, providing 5.7 months of import cover, bolstered by a current account surplus equivalent to 8.1% of GDP.

Dr. Asiama highlighted that economic growth in the third quarter of 2025 remained robust, with key indicators pointing to continued expansion, helping to strengthen confidence among both consumers and businesses.

“These results demonstrate that recent policy measures are producing positive outcomes and that policy credibility has been restored,” he said.

However, the Governor cautioned against complacency, explaining that the purpose of the current Monetary Policy Committee meeting is not to celebrate past successes but to evaluate whether the gains in economic stability can be sustained.

While global growth remains resilient, with projections of around 3.3% in 2026, Dr. Asiama warned that geopolitical uncertainties continue to pose potential risks.

He added that Ghana has benefited from favorable external conditions, including higher gold prices, but stressed that such advantages may not last indefinitely. “Domestically, rapid disinflation has created some policy space, but it also raises important questions for future policy decisions,” he noted.

According to the Governor, while coordinated monetary and fiscal policies have underpinned recent economic improvements, the central bank must continue to assess their durability and calibrate policies to support sustainable growth while safeguarding stability.