Ghana’s central bank says it will continue to rely on data-driven monetary policy to sustain recent gains in inflation and currency stability after the economy emerged from a period of severe financial stress.
Speaking to lawmakers in Accra, Governor Johnson Pandit Asiama said the Bank of Ghana would maintain a “prudent, disciplined and data-driven approach” to policy as it seeks to consolidate macroeconomic stability and rebuild confidence in the economy.
The governor told members of Parliament of Ghana that when he assumed office in February 2025 the country was emerging from “one of the most challenging periods in recent history,” marked by sovereign debt restructuring, sharp currency depreciation and surging inflation.
Inflation, which ended 2024 at 23.8%, has since fallen sharply to 3.3% in February 2026, one of the lowest readings in recent years, according to the central bank.
The cedi has also strengthened as economic fundamentals improved, Asiama said.
The Bank of Ghana cut its benchmark monetary policy rate by 900 basis points to 18% after maintaining a tight policy stance and implementing measures to absorb excess liquidity.
The central bank also strengthened foreign-exchange management and external buffers.
Gross international reserves have risen to about $13.8 billion, equivalent to roughly 5.7 months of import cover, providing additional support for the currency.
The governor said the country’s banking sector has also strengthened, with capital adequacy improving to 17.5% while total assets increased to 447 billion cedis and deposits climbed to 325 billion cedis.
“These indicators show that the banking system today is liquid, solvent and profitable,” Asiama said, adding that banks are on track to reduce non-performing loans to around 10% by the end of 2026.
Despite the improvement, the central bank remains cautious about external risks, including commodity price volatility and changes in global financial conditions.
Lawmakers welcomed the briefing, with the chairman of the parliamentary committee, Eric Afful, urging continued engagement with parliament to help address misinformation about the economy.
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