ghana reserves

A country’s Gross International Reserves (GIR) includes the US dollar value of holdings of foreign exchange, special drawing rights, reserves position in the IMF, and gold at the end of a given period. In simple terms, the GIR is a country’s safety net against unforeseen international payment difficulties. However, in a span of 2 years, Ghana has lost a whopping $6.3 billion worth of GIR. This is according to the Bank of Ghana’s Summary of Economic and Financial Data report. Details of the report indicate that Ghana had about $11.4 billion (an all-time high) in GIR as of August 2021.…