Ghana’s economy seeing significant improvements – MPC says after emergency meeting

The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) after its emergency meeting has announced that the economy has seen some significant improvements with a positive outlook.

In statement released on Friday, July 18, 2025, after the meeting to determine whether current conditions warranted any immediate action ahead of the scheduled 125th MPC meetings, the committee said all macro-economic indicators showed good results.

Inflation expectations are broadly anchored, external buffers have strengthened, and confidence in the economy is returning. The Committee reaffirmed its commitment to support the recovery process without compromising the gains achieved so far”, it said.

According to the committee, the disinflation momentum has strengthened, with headline inflation falling steadily for six consecutive months to 13.7 percent in June 2025, down from 23.8 percent in December 2024 as core inflation measures also show a re-anchoring of expectations.

It added that real sector performance remains strong, with real GDP growth reaching 5.3 percent in the first quarter of 2025 as non-oil GDP growth was stronger at 6.8 percent, driven by robust activity in agriculture and services sectors.

The external sector continues to strengthen, with a provisional trade surplus of US$5.6 billion and a current account surplus of US$3.4 billion in the first half of 2025, compared with US$1.4 billion and US$283.1 million, respectively, in the first half of 2024. These gains have contributed to higher reserve accumulation”.

The committee pointed out that gross international reserves improved to US$11.1 billion as at end-June 2025, equivalent to 4.8 months of import cover, from US$8.98 billion at end-2024.

On the local currency, it said the cedi has appreciated significantly, gaining 42.6 percent, year-to-date, against the US dollar, supported by strong foreign exchange inflows from gold and cocoa exports, remittances, improved investor sentiments, and prudent policy implementation.

“The global environment remains uncertain. Growth momentum is weakening, and is projected to slow to 2.8 percent in 2025, from 3.3 percent in 2024. Global financial conditions remain tight, and disinflation, though ongoing, is expected to proceed unevenly”.

“Overall, the Committee noted significant improvements in the current macroeconomic conditions and the positive outlook”.

Comments

US-Based Doctor Supports Weija Leprosarium, Underprivileged Children In Ankaase With Cash & Food Items

In a remarkable display of philanthropy, US-based medical practitioner, Dr. Kofi Kyei Sarfo, and the Sarfo family have made significant donations to support vulnerable communities in Ghana. During his visit to Ghana for the Christmas and New Year festivities, Dr. Sarfo and his family donated assorted food items and $5,000 to the Weija Leprosarium in Accra. This generous act aims to improve the lives of the inmates and support the tireless efforts of Rev. Father Andrew Campbell, founder of the Lepers Aid Committee. The donation to the Weija Leprosarium is a testament to Dr. Sarfo's commitment to giving back to his community. He praised Rev. Father Andrew Campbell for his selfless work in integrating cured lepers into society, emphasizing the need for continued support to ensure the well-being of the inmates. Dr. Sarfo encouraged others to follow in his footsteps, stating that every donation, no matter how small, can make a significant difference in the lives of the inmates. The don...

Kenpong Travel & Tours Champions Breast Cancer Awareness During Customer Week

As part of activities to mark Customer Week, Kenpong Travel & Tours, a leading travel agency in Ghana, is joining the global fight against breast cancer. October is Breast Cancer Awareness Month, and the company is passionate about spreading hope and support to those affected. At Kenpong Travel & Tours, we believe that travel and exploration can be therapeutic and empowering. That's why we're committed to supporting our customers and the broader community in the fight against breast cancer. We're proud to stand in solidarity with breast cancer warriors and survivors. At Kenpong Travel & Tours, we believe that everyone deserves a chance to explore the world and create unforgettable memories. Let's prioritize health, support one another, and fight against breast cancer," said Kennedy Agyapong, CEO of Kenpong Travel & Tours. Our efforts are focused on raising awareness, promoting early detection, and supporting those affected by breast cancer. We urg...

Mfantsiman Girls to Host 65th Speech & Prize-Giving Day

Mfantsiman Girls Senior High School is set to host the 65th Speech and Prize-giving Day and Homecoming from 14th to 16th March at Saltpond in the Central region. This year’s Speech and Prize-giving day is being hosted by the 2000-year group, and over 5000 old girls and students of Mfantsiman Girls are expected to attend the programme. Under the theme, ‘Leveraging New Media Technology to Optimize Girl Child Education,’ the event will emphasize the importance of harnessing technology to address the unique challenges faced by girls in accessing quality education, particularly in marginalized communities. By leveraging new media technology, we can create inclusive, interactive, and engaging learning environments that empower girls to reach their full potential. The theme will also serve as a call to action, encouraging students, educators, and stakeholders to explore innovative ways to integrate technology into girl child education, ultimately driving positive change and promoting a...

Kofi Ahovi

Search This Blog