Ghana Central Bank Posts $1.9 Billion Loss in Gold Purchase Program

According to International Monetary Fund (IMF) data, the Bank of Ghana recorded a loss of 22 billion cedis (approximately $1.9 billion) in 2025 under its domestic gold purchase program. The program aimed to strengthen the country's foreign exchange reserves. The bulk of the loss was attributed to fluctuations in gold prices and the depreciation of the local currency. The IMF report noted that this loss has added pressure on Ghana's fiscal balance and negatively impacted the central bank's profitability targets. Experts say that while the program achieved its goal of increasing reserves, its cost-effectiveness is being questioned. The Ghanaian government has announced plans to review its gold purchase strategy and strengthen risk management. This development is seen as a significant indicator in the context of the country's external debt burden and fight against inflation. This is not investment advice.