Parliament Approves Ghana Accelerated National Reserve Accumulation Policy
Parliament has passed the Ghana Accelerated National Reserve Accumulation Policy (GANRAP), the country’s first comprehensive national framework aimed at fast-tracking the build-up of external reserves and reinforcing long-term macroeconomic stability.
The development was announced in a Facebook post by Finance Minister, Dr. Cassiel Ato Forson, who described the policy as a deliberate and strategic intervention to fortify Ghana’s financial buffers and shield the economy from future external shocks.
According to him, GANRAP provides a clear and measurable pathway to increase Ghana’s international reserves to the equivalent of 15 months of import cover by 2028.
The medium-term target, he noted, is expected to significantly strengthen the country’s external position, consolidate macroeconomic stability, deepen investor confidence and enhance exchange rate resilience.
Dr. Forson further indicated that the policy represents a decisive break from reliance on expensive borrowing and short-term reserve build-up measures. In place of such approaches, GANRAP adopts a structured, gold-backed and reform-oriented framework designed to bolster resilience against global economic volatility while creating what he termed an “economic war chest” to preserve stability and support sustained growth.
The Finance Minister expressed gratitude to Ghanaians for their support and reaffirmed the commitment of President John Dramani Mahama’s administration to safeguarding the country’s economic future.
