Speaking at the CBG’s Monetary Policy Committee quarterly press conference held yesterday at the Bank, the Governor indicated that in terms of composition, the stock of short-term instruments, including treasury bills and Sukuk Al Salaam bills, accounted for 49.2 per cent of the domestic debt stock.
“Medium and long-term debt instruments represented 33.9 per cent and 17.1 per cent, respectively. The weighted average treasury bill rate rose from 11.3 per cent in 2024 to 14.6 per cent in March 2025,” he stated.
He also disclosed that the private remittance inflows, which continue to be a major source of foreign currency supply, amounted to US$207.9 million in the first quarter of 2025, higher than the US$187.2 million reported in the fourth quarter of 2024.
He gave a disaggregated figure of the remittances sources, saying the United States continues to be the largest source of Diaspora remittances, accounting for 26.3 per cent of total inflows during the quarter.
He also stated that the domestic foreign exchange market continues to function smoothly with robust activity volumes. “In the first quarter of 2025, total activity volumes, measured by aggregate purchases and sales of foreign currency, increased to US$670.1 million, compared to US$600.9 million reported in the same period a year ago,” he said.
He maintained that the exchange rate of the Dalasi continues to be relatively stable, reflecting improved market confidence and supply conditions. “From January to March 2025, the Dalasi depreciated against the United States dollar by 1.7 percent, the British pound sterling by 0.2 percent, and the CFA franc by 0.5 percent. However, it appreciated against the Euro by 1.2 percent during the review period,” he explained.
He further said the Central Bank continues to hold comfortable levels of international reserves, amounting to US$508.54 million as of end May 2025: “This is sufficient to finance over 4.6 months of prospective imports of goods and services,” he declared.
