Oppong Nkrumah demands full disclosure of BoG financing for gold purchase programme
The Ranking Member on Parliament's Economy Committee, Kojo Oppong Nkrumah, has called on the Bank of Ghana (BoG) to disclose the full amount of monetary financing provided to support the Domestic Gold Purchase Programme (DGPP), following reports of substantial losses linked to the initiative.
Parliament's Economy Committee Ranking Member Kojo Oppong Nkrumah has urged the Bank of Ghana (BoG) to reveal the complete amount of monetary financing provided to support the Domestic Gold Purchase Programme (DGPP). This request follows reports of significant losses associated with the program, which reached over **US$1.7 billion** in 2025, according to the International Monetary Fund (IMF).
Speaking on Citi FM, Mr. Oppong Nkrumah emphasized the need for transparency regarding the total monetary financing the central bank injected into the initiative, beyond the reported losses. He stressed the importance of the public understanding the full financial arrangements tied to the programme, particularly the overall value of monetary support extended to the Ghana Gold Board.
Oppong Nkrumah also raised concerns about potential implications for the wider economy, including the BoG's liquidity sterilisation measures. He highlighted the Minority Caucus' and the New Patriotic Party (NPP) commitment to closely examine the available data. The IMF's 2026 Article IV Consultation and proposed Policy Coordination Instrument report indicates that the Domestic Gold Purchase Programme served as a key source of foreign exchange inflows and reserve accumulation for the BoG in 2025, despite generating losses exceeding US$1.7 billion.
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