Ghana Focuses on Foreign Reserve Recovery
Ghana central bank Governor Johnson Asiama stated that rebuilding foreign exchange reserves is a top priority following a pause in gold exports and a weaker current account. Policymakers are balancing positive domestic growth against uncertain global conditions.
Ghana's central bank will prioritize rebuilding foreign exchange reserves over coming months, Governor Johnson Asiama said on Wednesday morning. The policy shift follows a pause in Gold exports by state buyer GoldBod since August and declining reserve buffers. Policymakers must balance positive domestic growth against an uncertain global backdrop marked by the Middle East conflict and rising Brent Crude Oil prices. Reserves are critical as the central bank prepares for higher foreign exchange demand in the fourth quarter.
