{"id":369654,"date":"2025-12-26T08:49:15","date_gmt":"2025-12-26T08:49:15","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/369654\/"},"modified":"2025-12-26T08:49:15","modified_gmt":"2025-12-26T08:49:15","slug":"bog-dismisses-gold-loss-claims-cites-imf-backed-macroeconomic-gains","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/369654\/","title":{"rendered":"BoG dismisses gold loss claims, cites IMF-backed macroeconomic gains"},"content":{"rendered":"

\"Bank <\/a>Bank of Ghana headquarters<\/p>\n

The <\/a><\/a><\/a>Bank of Ghana<\/a> (BoG) has dismissed reports of losses from its gold operations, describing them as \u201cspeculative,\u201d as the central bank is currently undergoing its annual external audit.<\/p>\n

In a statement issued on December 25, 2025, and sighted by GhanaWeb<\/a> Business, the BoG noted that \u201cany figures reported in relation to losses from gold operations in 2025 remain speculative.\u201d<\/p>\n

It pointed out that its audited financial statements, including \u201call relevant disclosures,\u201d will be published next year [2026] in accordance with statutory requirements.<\/p>\n

GoldBod rejects IMF claims of $214m loss in BoG Gold-for-Reserve program<\/a><\/p>\n

The clarification follows public commentary on the Domestic Gold Purchase Programme (DGPP), which the IMF flagged for potential financial risks during the fifth review of Ghana\u2019s IMF Extended Credit Facility (ECF) programme, completed on December 17, 2025.<\/p>\n

While acknowledging the IMF\u2019s caution, the <\/a><\/a><\/a>Bank of Ghana<\/a> said the DGPP has delivered significant macroeconomic benefits, describing it as \u201ca policy tool that has helped shore up Ghana\u2019s international reserves, supported currency stability, and enabled access to large volumes of foreign exchange without incurring new debt.\u201d<\/p>\n

The BoG, in the statement, highlighted the role of the Ghana Gold Board (GoldBod) as an aggregator, noting that its operations have been \u201cimportant in channelling gold-based inflows from the small-scale mining sector into the official market,\u201d ensuring the programme remains \u201canchored in public policy objectives.\u201d<\/p>\n

The central bank also linked the DGPP to improvements in Ghana\u2019s external position. It mentioned that tentative <\/a><\/a><\/a>Bank of Ghana<\/a> data suggest international reserves could exceed US$13 billion by the end of 2025. <\/p>\n

According to the BoG, the IMF\u2019s latest review recognised \u201cthe significant macroeconomic progress made\u201d under the ECF program, despite delays in some structural reforms due to their complexity.<\/p>\n

To address fiscal costs associated with the gold program, the BoG disclosed that its board has approved reforms aimed at improving pricing and operational efficiency. <\/p>\n

It added that these reforms, scheduled to begin in January 2026, will focus on \u201creducing intermediation fees, improving cost-efficiency, and achieving competitive, yet economically sound buying prices,\u201d supported by allocations in the 2026 national budget.<\/p>\n

The <\/a><\/a><\/a>Bank of Ghana<\/a> reiterated that conclusions on the financial performance of its gold operations should await the completion of the external audit, emphasising that \u201cclaims of losses at this stage are premature.\u201d<\/p>\n

See the full statement below:<\/p>\n<\/p>\n

MA<\/p>\n","protected":false},"excerpt":{"rendered":"Bank of Ghana headquarters The Bank of Ghana (BoG) has dismissed reports of losses from its gold operations,…\n","protected":false},"author":2,"featured_media":369655,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[45,49,48,46],"class_list":{"0":"post-369654","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-ca","10":"tag-canada","11":"tag-economy"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/369654","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=369654"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/369654\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/369655"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=369654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=369654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=369654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}