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El Samuels: MBN360 Business
Ghana’s international reserves are expected to exceed $13 billion by the end of 2025, according to the Bank of Ghana (BoG). As of mid-December 2025, tentative data suggests this milestone will boost investor and donor confidence in the economy. The reserves stood at $11.4 billion at the end of October 2025, up from $7.4 billion in October 2024, marking a significant increase of about $4 billion this year.
The BoG’s international reserves build-up is attributed to various factors, including the central bank’s efforts to stabilize the economy and meet obligations such as payments to Independent Power Producers (IPPs) and bondholders.
This development comes amid Ghana’s efforts to restore macroeconomic stability and secure debt sustainability under an IMF-supported economic program. The country’s economic indicators are showing signs of improvement, with inflation expected to decline and growth projected to rebound.
Experts believe that news of the record reserves could positively influence market sentiment and strengthen the Ghana cedi, as the Bank of Ghana is now in a strong position to support the currency and meet business dollar demands.
This year, the Bank of Ghana auctioned approximately $10 billion to cover obligations to Independent Power Producers (IPPs), bondholders, dividend payments, and other essential commitments.
Despite these outflows, the Central Bank’s reserve build-up programme remained intact, positioning Ghana to end 2025 with record-high international reserves.
