Audio By Carbonatix
The external sector outlook remains favourable, largely anchored on expectations of increased gold and cocoa export receipts, as well as inflows from remittances, the Bank of Ghana has revealed in its Monetary Policy Report.
According to the Central Bank, the external sector has continued to improve, with a record provisional current account surplus of US$2.1 billion in the first quarter of 2025.
This was driven mainly by higher prices, increased gold and cocoa production volumes, and strong remittance inflows.
The current account surplus and net outflows in the capital and financial account also resulted in an overall Balance of Payments surplus of US$1.1 billion.
Similarly, the strong external performance resulted in significant reserve accumulation.
Gross International Reserves (GIR) amounted to US$10.7 billion in April 2025, equivalent to 4.7 months of import of goods and services.
Latest Stories
-
Come again, Bank of Ghana!
12 seconds -
$120,000 stolen from Ghanaian financial institution by hackers – INTERPOL
3 minutes -
Why Council of State must be fixed, not scrapped – Constitution Review Chair explains
40 minutes -
A second look, not a veto – Constitution Review Chair makes case for Council of State reform
1 hour -
U.S. airstrikes in Nigeria signal major shift in West African security
1 hour -
Too young to lead? – Prof H. Kwasi Prempeh says Ghana’s Constitution undervalues its youth
1 hour -
Let the people decide – Constitution Review Chair pushes back against fear of ‘young presidents’
2 hours -
Both of these influencers are successful – but only one is human
2 hours -
‘We suffered together’ – Amorim changes style as Man Utd win
6 hours -
‘I have never prayed before in my life’ – Seun Kuti
6 hours -
AU flatly rejects Somaliland bid, reaffirms Somalia’s unity
7 hours -
Mali rally to claim draw against AFCON host Morocco
7 hours -
Man City players ‘incredibly disciplined’ – Guardiola
7 hours -
How to get rid of unwanted Christmas presents – without being found out
7 hours -
Zelensky plans to meet Trump on Sunday for talks on ending Russian war
7 hours