The Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, has highlighted the resilience and growth momentum of Ghana’s economy, despite the uncertain global environment.
Dr. Asiama emphasized that improved fundamentals have strengthened confidence in the country’s outlook.
Several key economic indicators demonstrate the positive trends in Ghana’s economy include Ghana’s GDP growth accelerated to 6.3% in Q2 2025, driven by the services and agriculture sectors. Non-oil GDP expanded by 7.8%, indicating a broad-based growth momentum.
According to him, Headline inflation fell to 11.5% in August, its lowest level since October 2021. This decline is attributed to a tight monetary stance, fiscal consolidation, and better food supplies.
“Ghana’s gross international reserves stood at $10.7 billion in August, covering about 4½ months of imports. This provides a buffer against external shocks and supports the stability of the local currency”. He stated. Adding that, The Ghanaian cedi has appreciated by about 21% year-to-date, outperforming many currencies globally. This is a testament to the country’s prudent monetary policy and effective liquidity management.
The Governor also highlighted the stability and improvement in the banking sector, with a capital adequacy ratio of 19.5% in July. Fiscal consolidation efforts have contributed to a decline in the public debt ratio by mid-year, indicating a commitment to responsible fiscal management.
The Monetary Policy Committee (MPC) reduced the policy rate by 300 basis points to 25.0% in July, while reiterating its readiness to adjust as the disinflation process evolves. Dr. Asiama reaffirmed the Bank of Ghana’s commitment to maintaining price stability, safeguarding financial stability, and creating conditions for inclusive, sustainable growth.
The positive economic trends and stability in Ghana’s economy have several implications for the country’s future growth and development. These include:
Overall, Ghana’s economy is showing signs of resilience and growth momentum, driven by improved fundamentals and prudent economic management. The country’s positive economic trends and stability are expected to continue, supported by the Bank of Ghana’s commitment to maintaining price stability and promoting sustainable growth.
