By Ashiadey Dotse
The Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, has announced that Ghana’s international reserves have reached 12 billion U.S. dollars, providing a strong buffer against external shocks and restoring investor confidence in the economy.
Speaking at the official launch of Cedi@60 in Accra on Tuesday, October 28, 2025, Dr. Asiama said the milestone marks a remarkable turnaround from the economic challenges the country faced in late 2022, when the cedi depreciated by over 50% and inflation surged above 54%.
He recalled that in November 2022, Ghana’s currency was ranked by Bloomberg as the world’s worst-performing currency, leading to rising prices, shrinking incomes, and widespread public anxiety.
“Those were not just statistics; they were real experiences that affected households, businesses, and livelihoods,” he stated.
Dr. Asiama attributed the recovery to coordinated and difficult policy actions under the leadership of President John Dramani Mahama and the Vice President. He said strong fiscal consolidation by government, a tight monetary policy stance by the central bank, and renewed investor confidence had all contributed to the current stability.
“As of October 17, the cedi has appreciated by 37 percent, and according to the World Bank, it is now the best-performing currency in sub-Saharan Africa for the first eight months of 2025,” he revealed.
He emphasized that the achievements were not by accident but the result of “hard, sometimes unpopular, but principled decisions” taken to restore macroeconomic stability and rebuild trust in Ghana’s financial system.
The Governor reaffirmed the central bank’s commitment to safeguarding price stability, preserving financial system resilience, and supporting long-term inclusive growth.
“We are not yet where we want to be, but we are no longer where we were,” Dr. Asiama said, urging Ghanaians to protect the gains made so far and to take pride in the resilience of the Ghana cedi.
The Cedi@60 celebration, he noted, will be a year-long national engagement featuring public lectures, exhibitions, community forums, and digital outreach to educate Ghanaians about the nation’s monetary history and the importance of maintaining financial independence.
One Response
I think the current government must start paying our debts, so as to achieve a full self reliance and a full economic stability.