IMF Report Reveals Bank of Ghana's $1.7 Billion Gold Purchase Losses

An IMF report has revealed that the Bank of Ghana incurred $1.7 billion in losses from its gold purchase program, a figure eight times higher than the previously reported $214 million. Gideon Boako has cited the report and questioned GoldBod about these significant losses.

5 Aug, 13:47 — 5 Aug, 13:47

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myjoyonlineMixed1h ago

MF report reveals $1.7 billion BoG gold purchase losses – 8 times higher than the previously reported $214 million

It has emerged that losses from the Bank of Ghana’s Domestic Gold Purchase Programme, implemented through GoldBod, were far greater than initially disclosed. According to IMF Country Report No. 26/213 on Ghana, prepared as background documentation for the 2026 Article IV Consultation, the widely reported US$214 million loss in 2025 represented only a small fraction of the total loss to the central bank.

By Isaac Yeboah

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IMF Report Reveals Bank of Ghana's $1.7 Billion Gold Purchase Losses

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MF report reveals $1.7 billion BoG gold purchase losses – 8 times higher than the previously reported $214 million

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