The Bank of Ghana Governor, Dr. Johnson Asiama, has assured Ghanaians that the country has built the required reserves to help withstand oil price shocks.
He emphasised that the recent resilience built compared with last year is highly significant and reliable going forward.
“We believe that our resilience now is far better that a year ago and we are hopeful things can be managed going forward based on current data”, he stated.
Dr Asiama disclosed this in an interview with Bloomberg in London as he reiterated that the Central bank does not see things getting out of hand based on the work done by building the necessary reserves to help withstand shocks.
The Governor further indicated that the assurances are based on the fact that current crises will be short-term and will not drag.
“What is happening now is actually based on our current projections, and we are not that worried,” the Governor said.
He also admitted that Ghana’s international reserves have witnessed significant increase, reaching over US$14 billion in May 2026.
However, there are fears that the recent sustained depreciation of the country’s currency could push pressure on the reserves.
Meanwhile, the Bank of Ghana is of the view that embarking on a dollar accumulation programme will see a build-up of more reserves in the coming weeks.
Story By Martha Seyram Jackson || Metro Digital
