President John Dramani Mahama has disclosed that Ghana’s foreign reserves have increased significantly from $8.3 billion to $13.9 billion, describing the development as evidence of improved economic resilience and recovery.
During the sod-cutting ceremony for a 24-hour model market at Kukuo in Tamale, Mr Mahama, as part of his Resetting Tour, addressed residents and traditional authorities on the state of the economy and ongoing development interventions.
Mr Mahama indicated that the increase in reserves reflects stronger macroeconomic management and efforts to stabilize the economy despite external shocks affecting global markets.
“When we came, we made $8.3 billion worth of reserves. We have built our reserves to $13.9 billion worth of reserves,” he stated.
He said the improvement in reserves is part of broader economic gains that have helped cushion the country against global challenges, including fluctuations in oil prices triggered by international geopolitical tensions.
Mr Mahama noted that these gains have contributed to stabilizing key economic indicators and strengthening the country’s ability to respond to external pressures.
He further stressed the importance of maintaining fiscal discipline to safeguard the gains achieved and ensure continued economic stability.
According to him, government must remain committed to prudent economic management to protect reserves and sustain recovery efforts in the medium to long term.
The remarks come as government continues to highlight improvements in key economic indicators, including inflation management, currency performance and reserve accumulation, as part of its broader economic recovery narrative.
Source: Mubarak Yakubu/angelonline.com.gh
