Ghana to Experience Economic Relief amid surge in gold prices

Ghana is poised to gain significantly from rising global gold prices, which are expected to boost export revenue, improve the country’s current account, and mitigate inflation. This is according to a new report released by Fitch Solutions, the research unit of Fitch Ratings Group.

In the report, Fitch Solutions points out that the combination of strong gold prices and reduced energy costs could drive Ghana’s current account surplus to about 6.9% of its GDP in 2025, making it the highest the country has seen in recent years.

“Elevated gold prices, combined with lower energy costs, will drive the current account surplus to a record 6.9% of GDP in 2025,” the report said.

This surplus is expected to help build up Ghana’s foreign exchange reserves and act as a buffer against global economic shocks, especially as trade tensions continue around the world.

The report further notes that the country’s improved trade position could also help stabilise the value of the cedi and contribute to a steady drop in inflation, which would ease the financial burden on both consumers and businesses that rely on imports.

Fitch Solutions remains hopeful about Ghana’s economic outlook despite the uncertainty caused by new tariffs introduced by the United States.