Parliament has approved the Ghana Accelerated National Reserve Accumulation Policy (GANRAP), a new national framework aimed at rapidly building external reserves and strengthening long-term economic stability.
The policy was adopted following approval of the joint report of the Finance Committee and the Economy and Development Committee, after debates in which Majority Members described the initiative as a historic intervention, while the Minority raised concerns about gaps that require further attention.
In a Facebook post after the adoption, Finance Minister, Dr Cassiel Ato Baah Forson described GANRAP as a deliberate strategy to strengthen Ghana’s financial buffers and protect the economy from future shocks.
The policy sets a target of raising Ghana’s international reserves to the equivalent of 15 months of import cover by 2028, a move expected to strengthen macroeconomic stability, support the cedi and boost investor confidence.
According to the Minister, GANRAP represents a shift away from dependence on borrowing toward a structured, gold-backed reserve strategy designed to enhance economic resilience and support sustainable growth.
By: Christian Kpesese
