The Ghana Accelerated National Reserve Accumulation Policy (GANRAP), which aims to enhance reserves and support a more stable cedi, has been advanced through the engagement of large-scale mining firms by the government.
Finance Minister Dr. Cassiel Ato Forson and Lands and Natural Resources Minister Emmanuel Armah-Kofi Buah co-chaired the conference, which brought together important players in the mining value chain.
Speaking at the meeting, Dr. Forson stated that the goal of the policy is to strengthen Ghana’s external buffers through improved compliance procedures and a revised gold acquisition structure.
“Our focus is strengthening reserves and supporting a more stable cedi,” he stated.
He clarified that the government is implementing specific reforms under GANRAP to enhance gold acquisition procedures while guaranteeing increased supervision and compliance with legal standards.
Large-scale mining company executives, Ghana Gold Board CEO Sammy Gyamfi, and representatives from the Minerals Commission were present during the interaction.
Dr. Forson emphasised that the policy is being implemented in collaboration with industry, characterising the conversations as beneficial.
“This is a partnership. It is not anti-industry. It is pro-country,” he said.
A key element of the government’s plan to strengthen its reserve position, lessen its susceptibility to outside shocks, and improve currency stability in the medium run is GANRAP.
Source: newsthemegh.com