Franklin Cudjoe is the Chief Executive Officer of the IMANI Centre for Policy and Education
The President of IMANI Africa, Franklin Cudjoe, has criticized the government over its plan to ramp up Ghana’s international reserves, urging instead a sharper focus on strengthening domestic value chains.
His comments come in response to the finance minister’s announcement on Wednesday, February 25, 2026, that Ghana aims to raise its gross international reserves from 5.7 months of import cover at the end of 2025 to 15 months by 2028.
The plan hinges on weekly gold purchases of 3.02 tonnes, projected to generate annual gross receipts of US$25.28 billion, according to official figures.
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However, during an interview on Citi FM on Saturday February 28, 2026, Cudjoe stressed that while the finance minister is pushing to build reserves to 15 months of import cover by 2028, the money could be better spent shoring up the economy’s “value chain loopholes.”
“Ato is forcing, we know, but we also need to let him understand that if he goes on this path of trying to accumulate a lot of reserves because I hear he said something like that for 15 months…It is better to use the money to plug all those value chain gaps,” Cudjoe said.
“…Before the 1,3,3 plan comes to fruition, you need to invest in value chains, which is why I like the focus on the Volta Basin. That whole area, look at that integration and do it properly,” he added.
SO/EB
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