Ghanaians are set to enjoy lower prices of goods and services, and improved public services, while the economy as a whole becomes more stable and resilient, as the Bank of Ghana’s (BoG) Monetary Policy Committee (MPC) announced a 586.4% increase in the country’s current account.

A current account is a major part of a country’s balance of payments. It shows how much money flows in and out of the country from trade and income.

During the just-ended Monetary Policy Committee (MPC), the BoG’s MPC revealed that Ghana’s current account has hit a record $3.8bn as of November 2025, representing a record S$3.2464 billion increase from the same period last year, where the account’s value stood at US$3.8 billion.

According to the Monetary Policy Committee of the BoG, the trade surplus increased to US$7.5 billion following an increase in gold and cocoa export earnings.

Also, it noted that Ghana received a lot of money from private sources outside the country, such as money sent by Ghanaians living abroad to their families, businesses, or investments in Ghana.

At the end of the third quarter of the year, these private inflows had hit $6.0 billion.

BoG also noted that the current account surplus, together with favourable balances in the capital and financial accounts, translated into an overall balance of payment surplus of US$1.8 billion and supported an accumulation of reserve assets to US$11.4 billion in October 2025. This is equivalent to 4.8 months of import cover.

Per projection, the country's reserve is expected to increase by the close of the year, which will in turn cushion the local currency, thus the cedi, strengthening it against the major trading currencies, particularly the US dollar. As of 21st November, the cedi is reported to have seen a 32.2% appreciation against the US dollar.

At the same meeting, BoG announced 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.