Ghana’s Economy Shows Strong Recovery As Key Indicators Improve — Bank of Ghana
The Bank of Ghana has released its Summary of Macroeconomic and Financial Data, revealing a significant decline in inflation and improved conditions across key economic indicators as of February 2026.
In the report, the Central Bank highlighted that year-on-year inflation for all consumer prices dropped to 3.3 percent in February 2026, a significant decline from the previous 23.1 percent recorded in February 2025, with food inflation also easing to 2.4 percent and non-food inflation settling at 4.0 percent.
The Bank further noted that the Monetary Policy Rate has been held at 15.5 percent as of February 2026, down from 27.00 percent in February 2025,with the Interbank Weighted Average Rate also declining to 12.58 percent.
On the external sector, the report indicated that Ghana’s Gross International Reserves stood at USD 14.47 billion as of February 2026, representing an import cover of 5.8 months, with Net International Reserves also recording USD 11.49 billion.
On the trade balance, the Bank indicated that Ghana recorded a Trade Balance of USD 3,689.7 million, representing 3.0 percent of GDP as of February 2026, signaling that the country is exporting more than it is importing, a positive development for the cedi and the broader economy.
On GDP, the report showed that Ghana’s overall GDP growth including oil stood at 5.8 percent in the fourth quarter of 2025, with non-oil GDP also recording 7.1 percent growth, driven largely by the Services sector which grew at 8.6 percent, Agriculture at 5.3 percent and Industry recording 1.9 percent growth.
On the banking sector, the report showed that total assets of banks grew to GHS 446.9 billion whiles the Capital Adequacy Ratio stood at 17.4 percent, reflecting a stable and well-capitalised banking sector.
The report also showed that Mobile Money registered accounts reached 81.8 million as of February 2026, with the value of transactions recording GHS 447.4 billion.
The data comes at a time when Ghana though currently implementing an IMF supported programme is also preparing to exit as well.
Experts say the strong reserve position, improving GDP growth and a positive trade balance not only signals growing investor confidence but also improved macroeconomic stability under the Mahama led administration.
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