'Ghana’s economy has turned decisive corner' — BoG Governor

The Governor of the Bank of Ghana, Dr. Johnson Pandit Asiamah, has announced that Ghana’s economy has made a strong recovery and is showing clear signs of stability and growth.

He said the country’s recent economic progress, including a significant drop in inflation and a strong cedi performance, is evidence that the economy has “turned a decisive corner.”

Speaking at the launch of the 60th anniversary of the Ghana Cedi on Tuesday, October 28, Dr. Asiamah said Ghana’s current economic success stems from prudent fiscal and monetary measures, as well as renewed investor confidence.

“Under the leadership of His Excellency John Dramani Mahama and Her Excellency the Vice President, and through coordinated, difficult but necessary policy actions, I’m happy to say that Ghana has turned a decisive corner. And indeed, the evidence is compelling,” Dr. Asiamah said.

He noted that inflation has fallen to 9.4 percent as of September 2025 and is expected to reduce even further by the end of the year.

The BoG Governor further stated that the cedi has appreciated by 37 percent as of October 17, making it the best-performing currency in Sub-Saharan Africa within the first eight months of 2025, according to World Bank rankings.

“Our gross international reserves are currently around 12 billion US dollars, which is providing a robust cushion against external volatility and restoring investor confidence,” he stated.

Dr. Asiamah attributed these gains to government fiscal consolidation, a tight monetary policy stance by the Bank of Ghana, and the growing confidence of both investors and the Ghanaian public.

He said the progress is the result of “hard, sometimes unpopular, but principled decisions” that have restored macroeconomic stability and positioned the country for sustained growth.