By the end of 2025, the Bank of Ghana’s (BoG) foreign reserves may surpass $13 billion.
The Central Bank claims that this estimate is based on preliminary data as of mid-December 2025.
The Bank of Ghana made the declaration in a statement in response to the International Monetary Fund’s (IMF) concerns regarding its exposure to the GOLDBOD and the Domestic Gold Purchase Program.
The development should increase donor and investor confidence in the economy, according to the Bank of Ghana.
According to data from the Bank of Ghana’s November Economic and Financial Data, the nation’s foreign reserves increased from $7.4 billion in October 2024 to $11.4 billion as of the end of October 2025.
The Central Bank’s reserve accumulation program and the domestic gold purchasing program have been credited by market observers with the robust increase in BoG’s reserves.
They claim that the record rise in international reserves is mostly due to these activities.
According to the 2025 development, the Bank of Ghana increased its foreign reserves by $4 billion this year, setting yet another record for the nation’s reserve accumulation.
Given that dollar demand usually increases as companies replenish and fulfil their dividend obligations, several analysts caution that the first quarter of 2026 may provide difficulties.
But according to people close to the Bank of Ghana, the appropriate precautions are in place, so these seasonal pressures shouldn’t be a reason to worry.
Because the Bank of Ghana is now in a strong position to maintain the currency and satisfy company dollar demands, experts believe that news of the record reserves might have a favourable impact on market sentiment and strengthen the Ghana cedi.
The Bank of Ghana auctioned off over $10 billion this year to pay dividends, bondholders, Independent Power Producers (IPPs), and other crucial obligations.
The Central Bank’s reserve build-up program persisted in spite of these withdrawals, putting Ghana in a position to finish 2025 with record-high foreign reserves.
Source: newsthemegh.com