President John Dramani Mahama has acknowledged that his government inherited $8.98 million in gross international reserves from the Akufo-Addo administration.
He stated that these reserves have improved to $10.6b currently.
This admission resolves the debate between officials from the two governments regarding the amount of reserves left for the nation.
Mr Mahama made this revelation while speaking at the opening of the Ghana-EU Business Forum in Accra on Tuesday.
Cedis performance
Regarding the performance of the Cedi, President Mahama stated that Ghana’s current has positively impacted the recent appreciation of the Cedi against the US Dollar.
He noted, “The Ghanaian Cedi, which depreciated by 19.2% in 2024, has shown signs of recovery, appreciating by 3.9% against the US Dollar by the end of April 2025. This improvement has been supported by stronger foreign exchange inflows, better trade balance, and growing investor confidence.”
