The Bank of Ghana’s Monetary Policy Report has stated that the bank’s reserved assets increased from US$391.1 million in April 2024 to US$1.1 billion in April 2025.
The significant increment the report noted was largely due to the Bank of Ghana’s gold purchase programme.
Per the report, the sum of the surpluses in the current and capital accounts amounted to US$2.2 billion, placing the country in a net lending position with the rest of the world.
According to the report, there was a net acquisition of financial assets in the financial account amounting to US$2.1 billion in the first quarter of 2025, significantly higher than the US$357.7 million recorded during the same period in 2024.
Other investment was US$1.4 billion, driven largely by increased currency and deposits in the nostro accounts of the commercial banks.
The stock of Gross International Reserves (GIR) stood at US$10.7 billion, enough to provide cover for 4.7 months of imports of goods and services.
This is compared with the end of December 2024 position of US$9.0 billion (equivalent to 4.0 months of imports covered).
The Central Bank explained that the outlook for the external sector is positive despite the resumption of external debt service following the restructuring of Ghana’s external debt.
“Increased production volumes of Ghana’s key export commodities, high commodity prices, and improved remittance flows will drive the strong external sector performance,” the report said.
The BoG is confident that the IMF programme will restore investor confidence and attract capital inflows.
The GoldBod’s operationalisation will also enhance the Bank of Ghana’s Gold for Reserves programme, the report added.
By: Rainbowradioonline.com/Ghana
