The Bank of Ghana (BoG) has injected approximately $10 billion into the economy since January 2025 to stabilize the exchange rate and strengthen the nation’s foreign reserves.
Appearing before the Public Accounts Committee (PAC) of Parliament in Accra on Monday, Nii Sowah Ahorlu, Head of Financial Marketing at the BoG, and Dr Johnson Pundit Asiama, Governor of the BoG, explained that the intervention primarily covered payments to Independent Power Producers (IPPs) and bondholders as part of a broader strategy to support the market.
Nii Ahorlu said: “Relative to last year, we have had significant intermediation processes, and that is what we have observed in terms of the stability and appreciation we have incurred. In terms of our support for the market this year, overall it has been close to $10 billion.”
The BoG’s intervention has contributed to the cedi’s appreciation, with the currency gaining 13.9 per cent against the dollar in October 2025. The central bank’s gold reserves also recorded significant growth, reaching 37.06 tonnes by September 2025.
The PAC is holding a public hearing from Monday, January 12, to Tuesday, January 13, to consider the Auditor-General’s reports on the Public Accounts of Ghana ministries, departments, and other agencies for the year ended December 31, 2024.
GNA