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Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.
Ghana’s gross international reserves position remained strong in the first half of 2024.
According to the Bank of Ghana, the stock of Gross International Reserves increased by $275 million $6.865 billion in June 2024, compared to $5.344 billion during the same period in 2023.
This represented 3.1 months of import cover. The Gross International Reserves (excluding encumbered and petroleum assets) also increased to $4.522 billion in June 2024, from $4.32 billion in April 2024.
The net international reserves was however slightly lower at $4.500 billion, as against $2.332 billion a year ago.
The Bank of Ghana disclosed in its July 2024 Monetary Policy Report indicated that the external payments position improved in the first half of the year.
Source: newsthemegh.com