By Sarah Baafi
The Governor of the Bank of Ghana, Dr Johnson Pandit Asiama, has warned that despite clear improvements in the country’s macroeconomic indicators, 2026 will be a critical year for policy discipline and credibility.
Opening the 128th Monetary Policy Committee (MPC) meeting on Monday, Dr Asiama said the current economic recovery, while positive, should not lead to complacency.
“All the economic indicators look good, but the improved conditions remind us that the work has only begun and that more effort is needed to lock in stability,” he said.
Ghana’s inflation rate has eased to 5.4%, foreign exchange reserves have risen to $13.8bn, and both investor and consumer confidence are showing signs of recovery. However, the governor stressed that the main challenge remains sustaining these gains over the medium to long term.
He said the MPC’s discussions would require careful judgment, particularly in balancing economic recovery with price and exchange rate stability.
Key issues before the committee include the pace of monetary policy adjustments, conditions in the foreign exchange market, and the impact of the Domestic Gold Purchase Programme on reserves and currency management. Dr Asiama also highlighted the importance of data integrity as Ghana prepares for an upcoming review by the International Monetary Fund (IMF).
He added that policy decisions taken in 2026 would send strong signals to both domestic and international stakeholders about Ghana’s commitment to macroeconomic discipline.
The MPC meeting is expected to conclude with a policy decision aimed at consolidating stability while supporting sustainable economic growth.
