President John Mahama revealed that he aims to increase Ghana’s foreign reserves to over $20 billion within the next three years.
Speaking on Ghana–Zambia relations on Friday, February 6, 2026, President Mahama said that the government has already strengthened reserves significantly, raising them from $8.9 billion to $13.4 billion in just one year.
“One of the things we need to do is to build our foreign reserves. In one year, we have moved our reserves from $8.9 billion to $13.4 billion. We want to, over the next three years, increase this to beyond $20 billion so that if anything happens, we will be able to tide over whatever shock comes,” he said
Further, the President added that building reserves alone cannot ensure long-term economic resilience. He emphasized the importance of creating a business-friendly environment that boosts citizens’ incomes and opportunities.
“The other thing is creating an environment that is conducive to business so that we can have a multiplier effect in terms of people’s income and opportunities. Because ultimately, your reserve alone will not be able to do it.”
This follows his call for shielding the economy from potential global shocks.
SOURCE: Citinewsroom
