The Governor of the Bank of Ghana, Dr. Johnson Asiama, Ghana’s macroeconomic conditions have continued to improve, with inflation falling sharply and external buffers strengthening.
Speaking at a press briefing in Accra on 26 January 2026, Dr. Asiama, noted that, inflation declined to 5.4% at the end of 2025, with expectations remaining well anchored.
He further stated that, Ghana’s gross international reserves had risen to US$13.8 billion, equivalent to 5.7 months of import cover, supported by a current account surplus of 8.1% of GDP.
Dr Asiama added that economic growth in the third quarter of 2025 remained strong, with leading indicators pointing to further expansion, helping to boost confidence among consumers and businesses.
“These outcomes confirm that recent policy choices are yielding results and that policy credibility has been restored,” he said.
However, the Governor cautioned against complacency, stressing that the focus of the current Monetary Policy Committee meeting was not to celebrate recent gains, but to assess whether economic stability could be sustained.
The governor emphasized that, while global growth remains resilient, with projections of around 3.3% into 2026, geopolitical uncertainty continues to pose risks.
Dr Asiama said Ghana has benefited from favourable external conditions, particularly higher gold prices, but warned that such tailwinds may not be permanent. Adding that, “domestically, rapid disinflation has created policy space, but has also raised important policy questions”
According to the Governor, while well-coordinated monetary and fiscal policies have supported recent gains, the central bank’s task is to assess the durability of these policies and calibrate future decisions to support growth while safeguarding stability.
