The Governor of the Bank of Ghana (BoG), Dr Johnson Pandit Asiama, has stated that the global economy proved more resilient than expected in 2025, with growth broadly supported by fiscal stimulus, rising real wages and increasing artificial intelligence related investments.
Dr Asiama noted that growth was propelled by fiscal stimulus in some countries, rising real wages amid declining price pressures, and increasing artificial intelligence related investments, especially in the United States and Asia. These factors contributed to stronger than anticipated global economic performance throughout the year.
Speaking at the 128th Monetary Policy Committee meeting in Accra on January 26, 2026, Dr Asiama observed that global growth remains resilient at approximately 3.3 percent. He emphasised that all economic indicators look good, but warned that the work has only begun.
The Governor stated that inflation dropped significantly to 5.4 percent by the end of 2025, while people expect prices to remain stable. This development has provided the central bank with more freedom to adjust its policies when needed, he explained.
Dr Asiama noted that foreign reserves have increased to 13.8 billion United States dollars, which is sufficient to pay for approximately six months of imports. This improvement is supported by a strong current account surplus equal to 8.1 percent of the country’s gross domestic product.
Economic growth through the third quarter of 2025 remained strong, boosting confidence among consumers and businesses, the Governor stated. He emphasised that these outcomes confirm restored policy credibility, but warned the committee’s role is to ensure future stability, not celebrate past gains.
At the Bank of Ghana’s New Year media engagement earlier in January, Dr Asiama stated that 2025 was a year of restoring macroeconomic stability, rebuilding confidence in policy, and reestablishing order across key segments of the financial system. For 2026, the Bank will focus on consolidating macroeconomic gains achieved while strengthening foreign exchange and money markets.
The Governor explained that the Bank’s policy decisions remain data driven and forward looking, with firm commitment to maintaining stability. The central bank responds to evidence, risks, and the medium term outlook for price and financial stability, not to pressure or speculation, he stressed.
Dr Asiama reiterated that the Bank prioritizes stability over speed, adopting policies that are sustainable even when difficult in the short term. The central bank functions as an institution guided by established frameworks and collective decision making informed by rigorous analysis, he added.
