By Ashiadey Dotse
Governor of the Bank of Ghana, Dr. Johnson Asiama, says Ghana’s economic recovery is still on the right track, but the bigger challenge ahead is keeping the trust of investors and the public.
Speaking at a Private Investor Roundtable during the African Development Bank’s Annual Meetings in Abidjan on Wednesday, Dr. Asiama said Ghana is back on a steady path. However, staying on track will take hard work and strong leadership.
“We know that stabilising the economy is just the start. The real task is to keep confidence strong, attract long-term investment, and grow the economy without losing the progress we’ve made,” he said.
Dr. Asiama added that trust in global finance must be earned through honest actions, transparency, and smart reforms. He encouraged private investors to partner with Ghana as the country works to improve its financial systems, public sector performance, and investment climate.
Economic Progress So Far
Dr. Asiama shared some key signs of improvement in Ghana’s economy. In 2024, Ghana’s economy grew by 5.7 percent, mainly driven by growth in the services and industrial sectors. A 4 percent growth rate is expected in 2025, despite ongoing global challenges.
The Ghana cedi has gained 21.5 percent in value so far in 2025, after losing 19.2 percent in 2024. Inflation has also eased, dropping from 23.8 percent in December 2024 to 21.2 percent in April 2025. Additionally, Ghana now holds $10.67 billion in international reserves, enough to cover 4.7 months of imports.
On the external front, Ghana recorded a $4.14 billion trade surplus and a $2.12 billion current account surplus in early 2025, supported by strong exports of gold and cocoa.
“These results are not by chance,” Dr. Asiama said. “They are the outcome of intentional policies and reforms.”
Tight Controls and Government Coordination
He explained that the Bank of Ghana has maintained tight interest rates, improved control over money supply, and worked closely with the Ministry of Finance to ensure that fiscal and monetary policies align with inflation-reduction and economic stability goals.
On the government side, he said strong spending controls and better revenue collection methods are helping to manage debt and support long-term development.
Dr. Asiama also pointed to a new agreement with the International Monetary Fund (IMF) and a recent credit rating upgrade by S&P as signs of growing confidence in Ghana’s economic outlook.
“This wide-reaching economic reset is helping rebuild trust, strengthen institutions, and make Ghana more attractive for investors,” he concluded.
