Ghana’s import landscape is set for a smooth transition, prices are set to be more stable, and the economy more predictable for both businesses and consumers, as the Bank of Ghana (BoG) announces an increase in the country’s reserves.

Speaking at the opening of the 127th Monetary Policy Committee (MPC) meeting of the BoG was held on Monday, 24 November, Governor of the financial institution, Dr Johnson Asiama, announced that the country’s reserve has hit a significant US$11.41 billion, representing about US$560 million increase in just one month.

This means that Ghana’s reserves have increased by about 44.1% between November 2024 and November 2025.

According to the BoG governor, the reserve is enough to cover 4.8 months of imports, signalling the development as a strong sign of improving economic stability and positioning the country against external shocks.

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

The Governor stressed that the significant increase in the reserves was far from accidental and is due to the government's intentional policy actions aimed at strengthening the cedi and improving Ghana’s balance of payments position.

“These gains are not accidental. They are the result of sustained efforts to stabilise the currency, manage liquidity, and improve our external sector performance,” he stressed.

Dr Asiama added that the MPC will continue to monitor economic indicators closely to ensure the momentum is maintained.

“We remain committed to safeguarding macroeconomic stability and providing guidance that supports growth while protecting the resilience we are building,” he said.

The ongoing MPC meeting is expected to assess recent economic trends and announce key policy decisions in the coming days.

Also, speaking at the launch of the 60th anniversary of the Ghana Cedi in Accra on Tuesday, October 28, which was held at the Accra International Conference Centre (AICC), Governor of the Bank of Ghana (BoG) Dr Asiama, highlighted that coordinated and difficult policy measures have yielded tangible results for the country

“Under the leadership of His Excellency John Dramani Mahama, and Her Excellency the Vice President, and through coordinated, difficult but necessary policy actions, I am happy to say that Ghana has turned a decisive corner, and indeed the evidence is compelling.

Currently, Ghana’s inflation stands at 8% as of October, marking the tenth consecutive month of decline and aligning with the Bank of Ghana’s target range.

The BoG Governor at the same launch of the cedi event cited key indicators of the country’s improved economic position. He noted that headline inflation, which has been a major concern in recent years, stood at 9.4 percent as of September 2025, with expectations that it will fall even further by the end of the year.

“Headline inflation now at 9.4% as of September 2025, and we expect it to end the year even further lower”, he continued, adding that the cedi, which was ranked as one of the worst-performing currencies in 2022 under the Akufo-Addo-led administration, has seen significant appreciation by 37% under the current government, serving as evidence of the positive impact of the fiscal policies implemented.

The national currency, the cedi, Dr Asiama said, has also strengthened significantly, appreciating by 37 percent as of October 17.

“The cedi has appreciated by 37% as of October 17, and according to the World Bank, it is the best-performing currency in sub-Saharan Africa for the first eight months of 2025. As of November 2022, the Cedi depreciated by over 50% becoming the World’s worst-performing currency in the world according to a Bloomberg report. Headline inflation spiralled to 54.1% and food inflation soared to an alarming 59.7% year-on-year in December 2022, distorting household budgets, shrinking incomes, and feeding public anxiety.

“These were not just numbers; they were lived experiences. They meant rising transport fares, shrinking working capital, unaffordable school meals, and sleepless nights for small business owners and salary earners alike. But they were not the end of our story,” he added.

Dr Asiamah also announced a year-long programme of nationwide activities designed to educate, engage, and celebrate the Cedi’s history, resilience, and role in Ghana’s economic journey.

He said, “As we officially launch the Cedi@60 anniversary, allow me to share a preview of what lies ahead. This celebration will not be confined to this hall. Over the next 12 months, we will embark on a nationwide and inclusive programme of activities, including:

“Currency exhibitions that tell the story of our monetary journey, from pounds to pessewas, from coins to QR codes, public lectures and school tours to engage students, professionals, and communities on the importance of monetary sovereignty. Diaspora engagements, highlighting the role of remittances and international trust in supporting the Cedi’s strength. And special publications and legacy projects to ensure this milestone leaves a lasting educational footprint,” he continued.

Meanwhile, not only has the country’s forex reserves seen a significant increase, but also its revenue in gold trading (small scale).

Ghana GoldBoard (GoldBod) in mid-October reported a significant revenue accrued from small-scale gold export between January and October 15.

The sector earned US$8 billion in foreign exchange within ten months, according to data from the Ghana Gold Board (GoldBod) and the Precious Minerals Marketing Company (PMMC).

The data also reported that small-scale miners exported 81,719.23 kilograms of gold during the period, valued at US$8.06 billion. This marks a sharp increase from US$4.61 billion recorded in 2024 and nearly quadruples the US$2.19 billion achieved in 2023.

Also, the data shows that gold export increased by 29% between 2024 and 2025, thus from 63,647 kilograms to 81,719 kilograms. When compared to 2023, GoldBod’s earnings have grown more than threefold.

The data highlights a consistent upward trend in both gold volume and export value over the three years, reflecting improved regulation, transparency, and compliance within Ghana’s small-scale mining sector.

The data also showed a robust month-on-month growth in the second quarter of the year, with a revenue of US$1.17 billion recorded in May, US$957.9 million in June, and US$897.6 million in April.

The country’s official gold buying and distribution authority has linked its significant gains to its partnership with PMMC and strengthened oversight of small-scale gold exports and other related gold-purchasing and regulations. The GoldBod-PMMC collaboration has proved efficient since mid-April 2025, when the former began operations, absorbing the functions of the latter.