Ghana’s gross international reserves have climbed to an unprecedented US$11 billion in the first six months of 2025, far exceeding the International Monetary Fund’s target of US$493 million for the period.
According to the Bank of Ghana, the country’s gold holdings also surged, rising from 8.8 tonnes in mid-2023 to nearly 33 tonnes by June 2025. This accumulation has provided strong backing for the local currency.
As a result, the Ghana Cedi appreciated between 16% and 24% against the US dollar by mid-2025, marking one of its most significant gains in recent years.
The US$11 billion in reserves now gives Ghana about 4.8 months of import cover, meaning the country could continue financing imports for almost five months even without new revenue streams.
Economic analysts say the reserves milestone reflects stronger export performance, higher gold purchases, and prudent monetary policy by the central bank.
The development is expected to boost investor confidence and help stabilize prices as Ghana continues economic reforms.
