@thenanaaba@thenanaaba this bothers me a lot yeah, if there are no riches in politics why then do most young men look up to these politicians? It’s crazy!
C. RATIONALE FOR A STRATEGIC RESERVE BUILD‑UP
14. Mr. Speaker, despite the progress made in 2025, growing global uncertainties make Ghana vulnerable to:
• external financing volatility;
• commodity price cycles;
• global geopolitical tensions;
• climate‑related disruptions; and
• regional security risks.
15. These have simultaneously lifted gold prices to historic highs and provide an opportunity for Ghana to build reserves to secure the country’s external sector against any major shock to strengthen Ghana’s first line of defence.
16. Mr. Speaker, given these uncertainties, the conventional threshold of three months of import cover is no longer adequate.
17. Government therefore seeks to accumulate a strategic buffer beyond the conventional reserve adequacy levels and build an “economic war‑chest” of 15 months of import cover by end-2028 to:
• Safeguard macroeconomic stability;
• Break the cycle of economic downturns;
• Sustain confidence in the currency;
• Improve investor confidence;
• Reduce exposure to external shocks; and
• Support long‑term economic transformation.
18. Mr. Speaker, the objective of this policy is to build reserves to 15 months of import cover to support Ghana’s long-term economic transformation without compromising macroeconomic stability.
D. HISTORICAL SIGNIFICANCE
19. Mr. Speaker, this strategy is not new. After the 1997 Asian Financial Crisis, the most affected countries embarked on aggressive foreign reserve accumulation as a key policy response.
20. This was driven primarily by a desire for self-insurance against future sudden capital reversals and crises following the traumatic experience of relying on IMF bailouts, which came with strict conditions.
21. Mr. Speaker, this helped these economies fare much better during later shocks, like the 2008 Global Financial Crisis without depleting their reserves.
22. Mr. Speaker, a diagnosis of Ghana’s reserve trajectory shows a pattern of episodic accumulation linked to opportunistic external borrowings and seasonal cocoa export inflows, followed by drawdowns to meet external obligations.
23. Mr. Speaker, from a reserve position of 5.4 months of import cover in April 2021, following an Eurobond issuance of US$3 billion, reserves sharply declined to a low of under 2.3 months of import cover in September 2023.
24. The depletion reflected a strain on external buffers in the face of constrained financing options, capital outflows, heightened macroeconomic pressures, and the need to meet critical foreign exchange obligations.
@officer_Lew And these people claim Africa lives in a jungle? Look at such animal in Europe. These people will blame is on old age and some health issues!
I hope they get to know that this can’t happen in West Africa, it will be weird to see this happens at airports or bus stops.
Do you know how much of a genius someone has to be to build a discrete 8 bit ALU using 3,488 transistors? An ALU is a core part of a CPU.
Yet this same guy was denied admission to senior high school in Ghana because of his hairstyle. Many people go through similar situations, with serious talents and dreams destroyed because of poor education rules and outdated mindsets. They label a hairstyle as indiscipline, then turn around and defend corruption by saying, “If it were you, you would have done the same thing.”
@GeorgeAnagli Tweaaa!! The best school in Volta region is Bishop Herman College. Consistent top performers in WASSCE since 1952 whereas Mawuli & Ketasco dey hover around 60 to 70%. One is a Cat B school, and the other (Mawuli) was elevated from B to A. BIHECO has been A since 1952.