Ghana’s international reserves are a key indicator of the country’s macroeconomic health. BoG cuts gold exposure by 50% on concentration concerns“Gold is a valuable asset, but it cannot sit idle,” he said. Government arrears were estimated at GH¢67.5 billion, excluding GH¢68 billion owed by the Electricity Company of Ghana (ECG), GH¢32 billion owed by COCOBOD and US$1.73 billion owed to Independent Power Producers (IPPs). In addition, the government prioritised external debt servicing, making approximately US$1.17 billion in Eurobond payments in 2025. “It would have been illogical to keep 30.5 tonnes of gold in reserves while the economy struggled with hyperinflation, unpaid arrears and rising systemic debt.

Source: GhanaWeb January 29, 2026 12:49 UTC