{"id":301685,"date":"2025-12-06T06:48:11","date_gmt":"2025-12-06T06:48:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/301685\/"},"modified":"2025-12-06T06:48:11","modified_gmt":"2025-12-06T06:48:11","slug":"bog-surpasses-imf-target-as-gross-international-reserves-hit-11-4-billion","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/301685\/","title":{"rendered":"BoG surpasses IMF target as gross international reserves hit $11.4 billion"},"content":{"rendered":"

\"Dr <\/a>Dr Johnson Asiama, Bank of Ghana Governor<\/p>\n

The Bank of Ghana<\/a> (BoG) has surpassed the International Monetary Fund<\/a>\u2019s (IMF) end-of-year Gross International Reserve (GIR) benchmark for 2025, Governor Dr Pandit Johnson Asiama has announced.<\/p>\n

The IMF had set Ghana\u2019s GIR target at $8.366 billion, equivalent to 3.3 months of import cover, but the country\u2019s current reserves now stand at $11.4 billion, providing more than 4.8 months of import cover.<\/p>\n

Dr Asiama disclosed the figures during a press briefing following the 127th regular meeting of the BoG\u2019s Monetary Policy Committee (MPC).<\/p>\n

\u201cWe have already achieved what, under the Fund programme, we were expected to reach by the end of December 2025. We are ahead of the curve,\u201d he stated.<\/p>\n

The Governor noted that cocoa inflows played a significant role in strengthening reserves, with cocoa exports generating about $2.7 billion. Strong remittance inflows have also supported currency stability and broader economic gains.<\/p>\n

\u201cReserve accumulation remains central to the stability programme,\u201d Dr Asiama emphasised.<\/p>\n

On monetary policy, the Governor explained that the MPC\u2019s recent 350-basis-point policy rate reduction aligns with ongoing efforts to drive down inflation.<\/p>\n

He acknowledged risks from global commodity price volatility but maintained that the BoG\u2019s deliberate reserve-building strategy provides a buffer for the economy.<\/p>\n

Dr Asiama further expressed his goal of reducing lending rates to about 10% by the end of his tenure. Current average lending rates stand at 21%, a significant improvement from previous levels of around 32%. As Treasury bill rates continue to decline, he expects banks to offer more competitive credit to businesses and households.<\/p>\n

The Governor also underscored the need for structural reforms to reduce Ghana\u2019s vulnerability to external shocks, particularly due to its dependence on primary commodity exports such as oil, gold, and cocoa.<\/p>\n

He encouraged greater value addition in sectors like gold refining and cocoa processing to strengthen the country\u2019s economic resilience.<\/p>\n

Touching on the Gold Purchase Programme, Dr Asiama clarified that it is a reserve management tool, not a financing arrangement.<\/p>\n

Regarding the recapitalisation of universal banks, he assured the public that the BoG would continue to monitor institutions to ensure they meet the required capital thresholds by the December deadline.<\/p>\n

All you need to know about Ghana’s new vehicle number plates | BizTech:<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"Dr Johnson Asiama, Bank of Ghana Governor The Bank of Ghana (BoG) has surpassed the International Monetary Fund\u2019s…\n","protected":false},"author":2,"featured_media":301686,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,1294,56,54,55],"class_list":{"0":"post-301685","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-uk","11":"tag-united-kingdom","12":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/301685","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=301685"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/301685\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/301686"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=301685"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=301685"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=301685"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}