Bank of Ghana injects $10bn to stabilise cedi and strengthen reserves

The Bank of Ghana (BoG) has confirmed that it has injected about US$10 billion into the economy since 2025 as part of efforts to stabilise the exchange rate and shore up the country’s foreign reserves.

According to the Central Bank, the intervention largely involved payments to Independent Power Producers (IPPs) and bondholders under a broader strategy aimed at supporting the foreign exchange market.

Speaking at a sitting of Parliament’s Public Accounts Committee on Monday, January 12, the Head of Financial Markets at the BoG, Nii Sowah Ahorlu, together with the Governor, Dr Johnson Asiama, explained that the intermediation measures had contributed to recent currency stability and appreciation.

“Compared to last year, we have undertaken significant intermediation processes, and that is what we are seeing in terms of the stability and appreciation recorded. Overall, our support for the market this year has been close to US$10 billion,” he said.

The disclosure comes amid heightened scrutiny of the BoG’s foreign exchange interventions, with stakeholders seeking confirmation that the measures are delivering sustained economic stability.