GoldBod operations imposing losses on BoG balance sheet – Prof Bokpin

Economist Professor Godfred Bokpin has warned that the operations of the Ghana Gold Board (GoldBod) are imposing significant losses on the Bank of Ghana’s balance sheet, raising concerns about the true fiscal cost of the government’s domestic gold purchasing programme. Prof Bokpin acknowledged that GoldBod has helped bring more foreign exchange into the formal system by purchasing gold from artisanal and small-scale miners. However, he argued that the programme was scaled up without sufficient…