The International Monetary Fund (IMF) has urged the Bank of Ghana (BoG) to end quasi-fiscal activities following losses recorded under the Domestic Gold Purchase Programme (DGPP). The IMF said the losses, together with other factors, increased the BoG’s negative equity position to 6.7 per cent of GDP by the end of 2025. The DGPP was introduced to strengthen Ghana’s gold and foreign exchange reserves through the purchase of gold from local miners. Although the programme contributed to higher reserves, the Fund said it also imposed significant financial costs on the central bank. In July 2026, the Government, the BoG and GoldBod signed an agreement transferring all DGPP activities from the central bank to GoldBod.