Foreign reserves

Ratings agency, Fitch, is predicting an increase in the Bank of Ghana’s foreign reserves to $7.7 billion in 2025, from $4.4 billion in 2022. This will put the import cover or months of current external payments to three months. “Current account surpluses and projected disbursements from international financial institutions will increase Bank of Ghana's foreign reserves by an estimated $1.1 billion per year in 2023-2025, after a $4.4 billion fall in 2022, reaching $7.7 billion (about three months of current external payments) in 2025, from 1.6 months in 2022.” The rating agency also said non-payment of interest on selected external…