Ghana’s external reserves have seen a notable improvement, rising to more than US$11.41 billion, the Bank of Ghana has confirmed. The development marks a significant boost to the country’s buffer against global and currency-related pressures.

Announcing the figures at the opening of the latest Monetary Policy Committee (MPC) meeting, Central Bank Governor Dr Johnson Asiama described the rise in reserves as evidence of strengthening macroeconomic stability. He noted that the current stock of reserves provides the equivalent of 4.8 months of import cover — a level he says places the economy in a more secure position to withstand external shocks.

“Our gross reserves have now exceeded US$11 billion, giving us about 4.8 months of import cover,” Dr Asiama said. “We are confident that by the end of the year, we will reach the five-month mark.”

He attributed the reserve build-up to deliberate policy measures aimed at stabilising the cedi, improving the balance of payments, and managing liquidity conditions. These gains, he emphasised, reflect sustained efforts rather than short-term or accidental outcomes.

Dr Asiama added that the MPC will continue to track key indicators to ensure that progress is maintained, stating: “We remain committed to safeguarding macroeconomic stability and providing guidance that supports growth while protecting the resilience we are building.”

The ongoing MPC meeting will review recent economic trends and is expected to release key policy decisions in the coming days.