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Gideon Boako cites IMF report, questions GoldBod over $1.7bn gold programme losses
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MyJoyOnline
Deputy Ranking Member of Parliament’s Finance Committee, Dr Gideon BoakoThe Deputy Ranking Member of Parliament’s Finance Committee, Dr Gideon Boako, has drawn attention to key concerns raised by the International Monetary Fund (IMF) regarding Ghana’s mining sector, the Domestic Gold Purchase Programme and the financial position of the Bank of Ghana.
In his latest economic commentary, “The Gboako Economic Digest - #001/26”, the Tano North Member of Parliament said the IMF acknowledged that the Domestic Gold Purchase Programme had helped strengthen Ghana’s foreign reserves and supported exchange-rate stability.
Dr Boako further stated that, according to the IMF, responsibility for these losses had now been transferred to the Ghana Gold Board (GoldBod) for onward absorption by government from July 2026.
He said this development raised important questions about fiscal risk management and transparency.
The Finance Committee’s Deputy Ranking Member added that the IMF believes the Bank of Ghana continues to carry significant losses and negative equity resulting from quasi-fiscal operations and the domestic debt restructuring programme.