The latest Bank of Ghana Summary of Economic and Financial Data has confirmed Joy Business’s earlier publication that Ghana’s gross international reserves stood at $7.68 billion, as of June 2022.
This is equivalent to 3.4 months of imports cover.
In March 2022, the country’s international reserves stood at $8.8 billion, about 3.9 months of import cover.
However, the net international reserves fell to $3.58 billion in June 2022, as against $5.13 billion in March 2022.
In January 2022, the country’s gross international reserves stood at $9.76 billion, about 4.4 months of import cover.
It further dropped to $9.54 billion (4.2 months of import cover) in February 2022 and $8.81 billion (3.9 months of import cover) in March 2022.
Again, it fell to $8.34 billion in April 2022 and subsequently to $8.11 billion in May 2022.
According to the figures on External Sector Developments, the Heritage and Stabilisation Funds in June 2022 stood at $1.22 billion.
This is compared with $939 million in April 2022.
Meanwhile, the country’s overall balance of payment stood at a deficit of $2.49 billion, as of June 2022, against a deficit of $934.5 million in March 2022.
This is equivalent to -3.5% of Gross Domestic Product.
The current account balance also stood at a deficit of $1.09 billion in June 2022, about -1.5% of GDP.
Similarly, the capital and financial account balance also stood at a deficit of $1.28 billion.
Latest Stories
-
Bawumia commissions new Fire Service Training School in Duayaw-Nkwanta
5 mins -
Cape Coast Technical University graduates urged to embrace opportunities and lead the way in innovation
8 mins -
Ghana, Malawi reach visa waiver agreement
15 mins -
Awutu Senya Municipal Council warns against spreading falsehoods regarding missing male genitals
16 mins -
We want to play at the 2025 U-20 World Cup – Black Satellites coach Desmond Ofei
43 mins -
10,720 housing units under development to address housing deficit – Kojo Oppong Nkrumah
1 hour -
Study finds 2 household chemicals linked to autism and multiple sclerosis risk
1 hour -
French school head resigns over Paris veil row and death threats
1 hour -
No lives were lost during last Tuesday’s ‘dumsor’ – Tema General Hospital
1 hour -
Today’s front pages: Thursday, March 28, 2024
1 hour -
Association of Service Providers of the Angolan Oil and Gas Industry (AECIPA) Partners with Angola Oil & Gas (AOG) 2024: Members Offered Exclusive Discounts
1 hour -
GPL 2023/24: Ignore reports of imminent sacking of Prosper Ogum – Kotoko IMC
2 hours -
The Meeting with the Egyptian African Businessmen’s Association
2 hours -
Akufo-Addo accepts Oteng-Gyasi’s resignation as GRA Board Chair
2 hours -
Election 2024: Bawumia pledges to increase solar power by 2,000 megawatts
3 hours