Governor of the Bank of Ghana, Dr. Johnson Asiama, has assured that Ghana’s record-high international reserves will be managed responsibly to maintain economic stability and boost investor confidence.
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Speaking to Joy Business’ George Wiafe in Washington, D.C., during the IMF/World Bank Spring Meetings, Dr. Asiama emphasized the central bank’s preparedness.
“We have projected our foreign exchange needs. This gives us a clear sense of expected payments for the next two years,” he noted.
By the end of February 2025, Ghana’s international reserves had reached $9.2 billion—a historic milestone. Moreover, the IMF has confirmed that Ghana’s reserves already exceed the required level under the current IMF programme, which ends in May 2026.
Nevertheless, some analysts have expressed concern. They fear the Bank of Ghana might burn through reserves to defend the cedi or face pressure from the government to make additional payments.
To address these concerns, Dr. Asiama offered reassurance. “We understand the risks. We are committed to preserving the reserves and protecting market stability,” he explained.
Furthermore, he stressed that the central bank remains focused on long-term sustainability. “Maintaining strong reserves is crucial not just for today, but for the years ahead,” he added.
Many market observers credit the cedi’s recent stability to Ghana’s strong reserve buffer. As a result, the government has gained greater flexibility in managing external obligations.
Looking ahead, Dr. Asiama reiterated that the central bank will make every effort to ensure the reserves continue to serve the national interest.
