Ghana’s central bank has successfully raised about USD 1 bln through its Domestic Gold for Reserves Program, which was implemented to stabilize the local currency. The program led to a notable increase in gross international reserves, reaching USD 2.5 bln by the end of October, up from USD 2.1 bln in August. This initiative aimed to serve as a buffer for the cedi, which had depreciated significantly against the USD. Before this program, Ghana had maintained only 8.7 tons of gold reserves for 50 years.