Ghana Central Bank Suffers $1.9 Billion Loss on Gold Reserve Drive

Ghana's central bank is facing financial losses of $1.9 billion from its ambitious gold reserve drive, which has boosted the country's foreign exchange reserves to $11.9 billion.

The Bank of Ghana introduced a special gold-buying initiative in 2025 to expand the country's foreign exchange reserves by financing domestic gold purchases through the Ghana Gold Board (GoldBod).

However, an assessment by the International Monetary Fund found that the initiative generated substantial financial losses for the central bank due to high service fees, assay charges, and trading margins.

The programme contributed an additional $3.9 billion to Ghana's gross international reserves, pushing the total to $11.9 billion by the end of 2025.