Ghana’s macroeconomic outlook is showing strong signs of recovery, with inflation falling sharply and foreign reserves rising, according to Bank of Ghana Governor Dr. Johnson Pandit Asiama.
Speaking at the opening of the 129th Monetary Policy Committee (MPC) meeting on March 16, 2026, Dr. Asiama said recent data indicates the economy is stabilising faster than expected after a prolonged period of volatility.
Headline inflation declined to 3.3 percent in February 2026, marking the fourteenth consecutive month of decline. The figure now sits below the central bank’s medium-term target band, reflecting a significant easing in price pressures across the economy.
“These are numbers that, not long ago, would have been considered aspirational,” the Governor told participants at the meeting, highlighting the scale of progress made in restoring stability.
Ghana’s external position has also improved notably. Gross international reserves increased to about US$14.5 billion, equivalent to 5.8 months of import cover. This represents a rise from roughly US$13.8 billion recorded during the previous MPC meeting in January.
The higher reserve levels provide a stronger buffer against external shocks and help support confidence in the cedi and the broader economy.
Dr. Asiama noted that falling inflation, rising reserves, and improving economic activity together signal a broad-based recovery. However, he indicated that policymakers would continue to monitor both domestic and global developments carefully before taking further policy decisions.
The MPC meeting is expected to assess these trends and determine the appropriate monetary policy stance needed to sustain stability while supporting economic growth.
Overall, the latest figures suggest Ghana’s economy is entering a more stable phase, offering renewed optimism for businesses, investors, and households.
