IMF never blamed GoldBod for BoG losses - Sammy Gyamfi
Sammy Gyamfi says the IMF report cited by Afenyo-Markin never blames GoldBod for BoG's losses, noting BoG lost money before GoldBod even existed.
Ghana Gold Board CEO Sammy Gyamfi asserts that the International Monetary Fund (IMF) report cited by Minority Leader Alexander Afenyo-Markin does not accuse GoldBod of causing any losses to the Bank of Ghana. He dismisses the claim as unsupported, stating that the narrative blaming GoldBod is lacking factual evidence. Gyamfi emphasizes that the IMF has not stated GoldBod caused the Bank of Ghana to lose $1.7 billion.
He points out that the timeline contradicts the Minority Leader's claim, as the Bank of Ghana had already experienced losses under the Domestic Gold Purchase Programme before GoldBod's existence. Gyamfi questions why GoldBod would be blamed for losses incurred in 2025 when the programme has no reference in the IMF report, which only cites a loss of $400 million from gold sales in 2024.
He challenges the basis for holding GoldBod liable without evidence, asking where a single body corporate can be blamed for accounting losses of another independent entity without justification.
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