President John Dramani Mahama has disclosed a significant leap in Ghana’s international reserves, announcing that the country now boasts six months of import cover—a sharp improvement from the 4.7 months reported by the Bank of Ghana just three months ago.
Speaking at a high-level engagement with members of the Council of State at the Jubilee House, the President hailed the milestone as a major economic achievement and a promising sign for the stability of the Ghanaian cedi.
“This is one of the highest that the country has recorded in the last 15 years,” he declared. “We are also looking forward to Ghana’s International Reserves reaching 10 months of import cover.”
President Mahama attributed the surge in reserves to deliberate and targeted interventions rolled out by his administration in partnership with the Bank of Ghana. These include key reforms in the gold export sector, which he said have enhanced forex inflows and created greater transparency in earnings.
“We have instituted a lot of measures that have helped improve transparency around Ghana’s gold exports, and that is also helping us improve our forex earnings and inflows as well,” he noted.
“Looking at the way things are going, we are hopeful that the country’s international reserves could reach record levels in the coming weeks,” the President added.
He credited the Ghana Gold Board for restoring order in the gold industry and further improving the nation’s foreign exchange position.
With cautious optimism, President Mahama said government’s macroeconomic strategy is beginning to yield results and promised that more comprehensive updates will be shared in the upcoming Mid-Year Budget to be presented by Finance Minister Dr. Ato Forson.
“We will have a better view on what has been done over the past six months, in terms of real economic data,” he stated.
President Mahama reaffirmed his administration’s commitment to stabilising the economy, assuring Ghanaians that prudent management, strategic reforms, and continued oversight would guide Ghana toward a more resilient and balanced fiscal future.
