The Domestic Gold Purchase Programme was never conceived as a profit-making venture. Equally important, exchange rate stability is essential for maintaining Ghana's public debt at manageable levels. By helping to moderate exchange rate volatility, the Domestic Gold Purchase Programme may have prevented substantial increases in the domestic cost of servicing external debt. For this reason, the Domestic Gold Purchase Programme should be evaluated using a comprehensive national cost-benefit framework. - The reduction in inflation attributable to exchange rate stability.