Finance Minister Dr. Cassiel Ato Forson has announced a major boost to Ghana’s gross international reserves, with an addition of $2.14 billion in the first half of 2025, achieved without any external borrowing.
Presenting the 2025 Mid-Year Budget Review in Parliament on Thursday, July 24, Dr. Forson described the development as a strong signal of the country’s improving external sector.
“our external sector has shown remarkable improvement in the last six months,” he said, noting that gross international reserves rose from $8.98 billion in December 2024 to $11.12 billion by June 2025. This translates into an increase in import cover from 4.0 months to 4.8 months.
He emphasized that the reserves boost occurred “even before the IMF and World Bank disbursements,” and reiterated that it was accomplished without any form of external borrowing.
Dr. Forson also highlighted significant progress in other external indicators.
“Mr. Speaker, in just 6 months, even before the IMF and World Bank disbursements, in fact without external borrowing, we have added US$2.14 billion to the country’s Gross International Reserves.”
Ghana’s trade surplus surged by over 300%, rising from $1.37 billion in June 2024 to $5.57 billion in June 2025, driven largely by strong gold and cocoa exports coupled with controlled imports.
The current account surplus, he added also improved markedly, reaching a provisional $3.44 billion in June 2025, up from just 283 million a year earlier.
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“The trade surplus increased from US$1.37 billion in June 2024 to US$5.57 billion in June 2025, representing 306.6% increase. This was driven by strong exports, particularly in gold and cocoa, and controlled imports.”
Source: Starrfm.com.gh
