Ghana's Central Bank Slammed Over $1.7 Billion Gold Purchase Loss

The Bank of Ghana's Domestic Gold Purchase Programme has been criticized by MP Attah Issah for generating losses of over $1.7 billion in 2025, despite helping to rebuild Ghana's foreign exchange reserves and support the Cedi.

According to the IMF's 2026 Article IV Consultation and proposed Policy Coordination Instrument report, the programme was a quasi-fiscal activity that worsened the central bank's already negative equity position.

Issah argued that the programme should have been handled by the Ghana Gold Board due to its financial nature. 'This makes it a quasi-fiscal expenditure,' he said.