Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has signed a landmark Memorandum of Understanding (MoU) under the Ghana Accelerated National Reserve Accumulation Policy (GANRAP), aimed at strengthening the country’s gold reserves and economic stability.
Under the agreement, Ghana will secure 30% of gold produced by large-scale mining companies for the country’s strategic reserves. The initiative forms part of the government’s broader plan to build stronger foreign exchange reserves and reduce Ghana’s vulnerability to external economic shocks.
The government has set an ambitious target of achieving 15 months of import cover by 2028, supported by increased gold reserves and improved foreign exchange management.
Dr. Cassiel Ato Forson expressed appreciation to the Ghana Chamber of Mines and participating large-scale mining companies for supporting the initiative.
The government says the policy will help create a stronger economic reserve, support cedi stability, improve Ghana’s foreign exchange position and strengthen the country’s ability to withstand global economic pressures.
The gold reserve strategy is expected to play a significant role in Ghana’s economic recovery, reserve accumulation efforts and long-term financial stability.
Source: newsthemegh.com