Ghana’s foreign exchange inflows reduced in 2020 by over 3%

Ghana’s Foreign Exchange inflows for 2020 were over US$12.1billion (US$12,181.83 million) compared to US$12.6billion (US$12,625 million) for the corresponding period of 2019, according to the 2020 Auditor General’s report.

The figure shows a decrease of US$444.14 million or 3.5 percent.

According to the report, outflows for 2020 totalled US$11,690.23 million compared to US$10,946.03 million for 2019, signifying an increase of US$ 744.20 million or 6.80 percent.

The report also stated that BOG’s foreign exchange inflows for 2020 were derived from cocoa, capital and invisible receipts.

These totalled US$12.181.83 million compared to US$12.625.97 million for 2019, a decrease of US$444..14 million or 3.52 percent.

This was as a result of a downward movement in cocoa and invisible receipts, the report noted.