Accra, Feb. 25 – Parliament has approved the Ghana Accelerated National Reserve Accumulation Policy (GANRAP), a framework designed to strengthen the country’s external buffers and reduce vulnerability to global economic shocks.
The decision followed detailed deliberations by both Majority and Minority members. Presenting the policy, Finance Minister Cassiel Ato Forson disclosed that Cabinet had sanctioned the strategy to increase Ghana’s international reserves to the equivalent of 15 months of import cover by the close of 2028.
A key operational component of GANRAP assigns the Bank of Ghana the mandate to acquire a minimum of 170 tonnes of gold annually from artisanal producers to reinforce reserve assets.
The initiative is anchored in the Ghana Gold Board Act, 2025 (Act 1140), which provides the legal basis for mobilising gold resources to enhance foreign exchange liquidity and strengthen the central bank’s gold holdings.
Dr Forson indicated that the policy responds to Ghana’s historical exposure to cyclical balance-of-payments pressures, recent macroeconomic adjustments, evolving global risk conditions, and broader structural transformation objectives. He characterised GANRAP as a strategic “economic war chest” intended to serve as self-insurance against capital flow reversals and external crises.
He further noted that achieving the 15-month import cover benchmark would materially improve Ghana’s shock-absorption capacity, reduce reliance on external financial assistance, including programmes with the International Monetary Fund, and support medium- to long-term macroeconomic stability.
The policy forms part of broader efforts to reinforce fiscal and monetary resilience while safeguarding the country’s external position.
GHBUSS
26 February 2026
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