Ghana’s gross international reserves fell by $1.9 billion between June and August 2026, bringing the total to $11.07 billion.

The decline occurred despite relatively strong export earnings, which were supported largely by gold.

The development was reported on September 24, 2026, based on the latest data from the Bank of Ghana. Governor Dr Johnson Asiama highlighted the figures at the opening of the Bank’s 132nd Monetary Policy Committee meeting.

The drop reduced Ghana’s reserve buffer from 5.7 months to 4.2 months of import cover. This means the country now has less foreign exchange available to pay for essential imports over a shorter period.

A pause in gold exports by the Ghana Gold Board since mid-August added further pressure to the country’s foreign exchange position. Gold has been a major source of export revenue, so the temporary halt contributed to the tighter reserve situation.

The fall in reserves comes at a time when Ghana continues to manage its external balances and foreign exchange needs. Officials are monitoring the trend as part of ongoing efforts to maintain economic stability.

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