Ghana’s economy has shown signs of improvement, with headline inflation dropping to 3.3% in February, marking the 14th consecutive month of decline and falling below the Bank of Ghana’s medium-term target band.
Governor of the Bank of Ghana (BoG), Johnson Pandit Asiama highlighted this progress at the opening of the 129th Monetary Policy Committee (MPC) meeting, stating that the economy is stabilising faster than expected.
He explained that the country’s gross international reserves have also risen to $14.5 billion, equivalent to 5.8 months of import cover, indicating a strengthening of Ghana’s external position.
However, Dr. Asiama cautioned that global risks, particularly the Middle East conflict, are disrupting energy and shipping routes, leading to oil price volatility and uncertainty around global inflation.
The MPC meeting will assess recent economic developments and set the monetary policy stance going forward, balancing progress with caution.
The Governor emphasized the need for policymakers to navigate these challenges while sustaining the gains made in economic stability.
