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Parliament of Ghana has approved the Ghana Accelerated National Reserve Accumulation Policy (GANRAP), the nation’s initial extensive national strategy aimed at speeding up the accumulation of external reserves and ensuring long-term economic stability.
In a Facebook post, Finance Minister Dr. Cassiel Ato Forson announced that the policy is a strategic and intentional effort to enhance Ghana’s financial reserves and safeguard the economy from future disruptions.
The Minister stated that GANRAP provides a specific and quantifiable plan to increase Ghana’s foreign reserves to the level of 15 months of import coverage by 2028.
The goal is to considerably bolster the nation’s external standing, enhance macroeconomic stability, increase investor trust, and improve exchange rate durability.
Dr. Forson explained that the new policy marks a decisive shift away from reliance on costly borrowing and short-term reserve accumulation measures. Instead, GANRAP adopts a structured, gold-backed and reform-driven framework designed to enhance resilience against global economic turbulence while building what he described as an economic war chest to protect stability and sustain long-term growth.
He expressed appreciation to Ghanaians for their support and reaffirmed the commitment of President John Dramani Mahama’s administration to safeguarding the country’s economic future.
Read his full post on Facebook below:
A while ago, Parliament passed Ghana’s first National Reserve Accumulation Policy (GANRAP) deliberately designed to accelerate the building of external reserves and safeguard the future of our country.
The Policy sets out a clear and measurable roadmap to increase Ghana’s international reserves to the equivalent of 15 months of import cover by 2028.
GANRAP marks a decisive shift away from costly borrowing and short-term reserve measures toward a structured, gold-backed and reform-driven framework aimed at strengthening resilience against economic shocks.
It will build the needed economic war chest to protect our stability and long-term growth.
I am grateful to you all my fellow citizens for your support and assure you that President Mahama’s administration will do everything possible to protect and safeguard the future of our beloved country.
Source: Ghanatodayonline.com
