Parliament has approved a new gold reserve accumulation policy aimed at strengthening Ghana’s foreign exchange position and reinforcing macroeconomic stability.
The policy, presented to the House by Finance Minister Dr. Cassiel Ato Forson, is anchored on the Ghana Gold Board Act.The Act mandates the Gold Board to generate foreign exchange and support gold reserve accumulation by the Bank Of Ghana
Under the programme, government has set an ambitious timeline to significantly improve Ghana’s import cover. The country is expected to reach an immediate target of 8.6 months of import cover by the end of 2026. This is projected to rise to 11.8 months by the close of 2027, before ultimately attaining a 15-month import cover target in 2028.
Officials say the initiative forms part of a broader economic strategy designed to stabilise the cedi, strengthen external buffers, and shield the economy from global shocks. The policy also seeks to restore investor confidence at a time when economic stability remains a key national priority.
Beyond gold-backed reserve accumulation, the programme incorporates structural reforms aimed at expanding foreign exchange inflows while reducing persistent outflows. Authorities believe these measures will improve financial resilience and enhance overall confidence in Ghana’s economic management framework.
Parliament’s approval signals strong legislative backing for what government describes as an aggressive but necessary reserve build-up strategy to safeguard the country’s economic future.
