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BoG defends gold reserve reduction, cites portfolio diversification strategy
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MyJoyOnline
Dr. Johnson AsiamaThe Bank of Ghana has explained the recent decline in its gold reserves, saying the move was part of a deliberate strategy to diversify its reserve portfolio and improve returns.
The Governor of the Bank of Ghana, Dr. Johnson Asiama, revealed that Ghana’s gold holdings were reduced after assessments showed the central bank was over-exposed compared to its peers.
The comments follow reports showing a decline in Ghana’s gold holdings to 18.6 tonnes, sparking public discussion about the country’s external reserves position.
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