Ghana’s Finance Minister, Dr Casiel Ato Baah Forson, on Wednesday February 25, 2026 announced a new economic strategy aimed at significantly increasing the country’s foreign exchange reserves under the Ghana Accelerated National Reserves Accumulation Policy (GANRAP).
Presenting a policy statement on the floor of Parliament, the Minister said the initiative is intended to strengthen Ghana’s external financial position and provide a safeguard against future economic shocks.
GANRAP proposes a structured approach to reserve accumulation through improved export earnings, fiscal discipline and better management of foreign exchange inflows. Government believes a stronger reserve position will reduce Ghana’s vulnerability to global economic disruptions.
The policy comes as Ghana continues efforts to consolidate recent economic gains and rebuild financial stability following years of fiscal and debt challenges.
Authorities say building adequate reserves is critical for sustaining macroeconomic stability and protecting the economy from external shocks.
Parliament is expected to debate the policy framework in detail before eventual adoption.
Economic observers note that reserve accumulation policies have helped many emerging economies maintain stability during periods of global uncertainty.
However, analysts caution that achieving the targets will require sustained export growth and disciplined public spending.
Some economists also stress that reserve accumulation policies typically require strong institutional coordination between fiscal authorities and the central bank to ensure consistency in implementation.
Others note that the effectiveness of GANRAP will depend on the country’s ability to maintain export competitiveness and attract stable foreign exchange inflows over the medium term.
By: Christian Kpesese
