We have enough dollar reserves to deal with Christmas festivities pressures – Dr. Addison

Bank of Ghana Governor Dr. Ernest Addison assured businesses that there are sufficient dollar reserves to support the cedi during the Christmas season.

With US$7.50 billion in reserves, equivalent to 3.4 months of import cover, and a stable cedi after earlier pressures, the BoG is prepared to meet increased dollar demand.

The cedi's recent depreciation slowed to 7.1% in the second half of 2024, supported by the BoG's tight monetary policy and Gold Purchase Programme.

Despite COCOBOD's foreign loan challenges, the BoG remains confident in maintaining cedi stability through December.