Ghana’s gold reserves have seen a significant boost, increasing by 56% over the past year, according to the latest data from the Bank of Ghana. The country’s gold holdings rose from 19.5 tonnes in 2023 to 30.5 tonnes in 2024, a rise valued at approximately $2.7 billion.

This growth comes as part of the Bank of Ghana’s ongoing efforts to bolster the country’s foreign exchange reserves through its Gold for Oil Policy and Domestic Gold Purchasing Programme. The central bank has aimed to protect the economy from external shocks while strengthening Ghana’s position in global markets.

The surge in gold reserves is seen as a strategic move to stabilise Ghana’s financial outlook, particularly as global economic uncertainty continues to impact markets worldwide. Experts suggest that the increase in reserves will help the country mitigate inflation, reduce its vulnerability to currency fluctuations, and enhance investor confidence.

As market watchers closely monitor these developments, attention is also focused on the broader implications for Ghana’s fiscal policy and its standing in the global economic arena.

Source:TheDotNews