Ghana’s external reserves have strengthened significantly, with the Bank of Ghana reporting an increase to approximately $14.5 billion, providing around 5.8 months of import cover.
The Bank of Ghana has released its report on the performance of Ghana’s Petroleum Funds for the second half of 2024.
The report revealed a significant increase in oil revenue and a substantial boost to funding allocations as growth in investments in Ghana’s petroleum funds reached $1.4 billion.
The Petroleum Holding Fund (PHF) recorded a total inflow of US$1.06 billion in 2023 despite economic headwinds.