Amid the controversy surrounding the performance of the Bank of Ghana’s (BoG) Domestic Gold Purchasing Programme (DGPP), the Central Bank has firmly rejected claims that it recorded a US$214 million loss.
The BoG is describing the figures circulating in the public as speculative and not backed by audited accounts.
In a response to the report, the central bank stressed that its financial statements for 2025 have not yet been audited. Until that process is completed, it says, any claims about losses linked to gold operations remain unverified and should be treated with caution.
The Bank explained that it is currently undergoing its annual external audit, a standard process required by law. The BoG says that only after this audit is completed and the accounts are formally published can accurate conclusions be drawn about the financial performance of its operations, including the DGPP.
“The Bank of Ghana is currently undergoing its annual external audit. As such, any figures reported in relation to losses from gold operations in 2025 remain speculative,” the statement emphasized.
It added, “The Bank’s audited financial statements, including all relevant disclosures, will be published next year in accordance with statutory requirements.”
This clarification directly challenges public interpretations of the IMF report, which flagged potential financial losses associated with the gold programme. The BoG is suggesting that those references, for now, do not amount to confirmed losses and should not be presented as such.
This distinction, experts say, matters. The Bank’s position is that drawing firm conclusions without final accounts creates unnecessary alarm and misinformation.
The central bank assured the public that full disclosures, including details on gold operations, will be published once the audit is completed next year, in line with statutory requirements.
Until then, it insists, claims of losses remain speculative and incomplete.