Foreign Reserves Surge to GH¢14.5bn from GH¢9bn in 2024 — Majority Defends Bank of Ghana Performance

The Majority Caucus in Parliament has jumped to the defence of the Bank of Ghana (BoG), crediting the central bank for what it describes as a remarkable turnaround in the performance of the Cedi following the return of the National Democratic Congress (NDC) to power.

Addressing a press conference on Thursday, April 30, the Member of Parliament for Sagnarigu, Issah Atta, insisted that the central bank deserves commendation rather than criticism for its recent achievements.

He argued that the Bank’s monetary policies and strategic interventions have played a critical role in restoring confidence in the local currency and strengthening Ghana’s macroeconomic outlook.

According to him, the performance of the cedi over the past year reflects a massive improvement compared to the challenges experienced in 2024, when the currency faced substantial depreciation pressures.

He noted that the current trajectory marks a shift towards stability and resilience, which he attributed to sound economic management and coordinated policy efforts by the BoG.

“The stabilisation of the Cedi that we saw which lost its value of 19 percent in 2024, for the first time in many years, gained its strength of 41 percent in 2025 and named the strongest currency of any emerging market in the world in 2025.

“The international reserve grew from GH¢9.1 billion as at the end of 2024 to GH¢13.8 billion at the end of 2025 and now stood at GH¢14.5 billion as at February 2026, the highest reserve Ghana has ever recorded in history.”