Dr. Johnson Asiama, Governor of the Bank of Ghana, has promised that the country’s record international reserves will be managed responsibly to support market confidence and economic stability.
He made this assurance during an exclusive interview with Joy Business’ George Wiafe in Washington, D.C., at the IMF/World Bank Spring Meetings.
“We already have a solid cash flow projection for foreign exchange needs,” Dr. Asiama stated. “We know the payments due at least two years ahead.”
According to him, the current reserves are strong enough to cover Ghana’s external obligations over the next two years.
Ghana’s reserves reached $9.2 billion by the end of February 2025 — the highest level in its history. The IMF confirmed that this amount exceeds the requirement set for the end of Ghana’s IMF programme in May 2026.
Despite this progress, some analysts worry the Bank of Ghana might aggressively defend the cedi. They also fear government pressure could force additional payments, weakening the reserve buffer.
Dr. Asiama responded to these concerns.
“We clearly understand the importance of high reserves and their role in market confidence,” he said. “We will take every necessary step to maintain this strength.”
Many experts link the current cedi stability to Ghana’s strong reserve levels.
