Ghana Prioritizes Reserve Rebuilding Amid Weaker Current Account and Paused Gold Exports

Ghana's central bank is shifting its focus to rebuilding foreign exchange reserves in light of a weaker current account and declining reserves. The pause in gold exports by state buyer GoldBod since August has also contributed to the country's economic concerns.

Speaking at the start of the Monetary Policy Committee meeting, Governor Johnson Asiama emphasized the need for policymakers to balance positive domestic conditions with an increasingly uncertain global backdrop shaped by the Middle East conflict and rising oil prices.

The central bank's gold reserves fell to 24.4 metric tons in June 2026 from 33 tons a year earlier due to lower-than-targeted purchases from large-scale miners.