The Ministry of Finance, Bank of Ghana (BoG), Ghana GoldBod and the Ghana Chamber of Mines have signed a Memorandum of Understanding (MoU) under the Ghana Accelerated National Reserve Accumulation Policy (GANRAP). According to BoG Governor Johnson Asiama, the agreement will secure 30% of Ghana’s large-scale gold production for the country’s strategic reserves. The initiative …
BoG, Finance Ministry, GoldBod, Chamber of Mines seal GANRAP agreement
The Ministry of Finance, Bank of Ghana (BoG), Ghana GoldBod and the Ghana Chamber of Mines have signed a Memorandum of Understanding (MoU) under the Ghana Accelerated National Reserve Accumulation Policy (GANRAP).
According to BoG Governor Johnson Asiama, the agreement will secure 30% of Ghana’s large-scale gold production for the country’s strategic reserves.
The initiative forms part of efforts to strengthen Ghana’s reserve position and enhance the country’s economic resilience against external shocks.
Dr Asiama said the policy is expected to support greater stability of the cedi and help strengthen the country’s ability to manage periods of global economic uncertainty.
He said Ghana is targeting 15 months of import cover by 2028, a level he described as well above the standard benchmark for reserve adequacy.
The Governor thanked the Ministry of Finance, Ghana Chamber of Mines, GoldBod and participating mining companies for their commitment to the reserve accumulation initiative.
