Ghana’s reserve buffer shrinks to 4.2 months as BoG flags fresh external risks
Ghana’s gross international reserves have fallen to about US$11.1 billion at the end of August 2026, reducing the country’s foreign-exchange buffer to 4.2 months of import cover and prompting the Bank of Ghana to flag renewed risks to the external position.
Ghana's foreign exchange reserve buffer has dwindled to 4.2 months of import cover as of the end of August 2026, according to the Bank of Ghana. This represents a significant decrease from the US$14.16 billion recorded in March, falling to US$11.1 billion. The decline occurred despite strong export performance, particularly from gold and cocoa.
The Bank of Ghana Governor Dr. Johnson Asiama highlighted the declining reserves, a projected current account deficit, and a pause in gold exports as key risks that require close monitoring. He stressed that rebuilding reserves will be a priority for the Bank in the coming months, signaling the importance the central bank attaches to restoring the country's external buffers.
The fourth quarter poses an additional challenge due to the projected rise in foreign exchange demand.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
