GoldBod ‘losses’ have helped stabilise Cedi, contain inflation – Mahama Ayariga
Outgoing Majority Leader in Parliament, Mahama Ayariga, has rejected claims that the financial costs associated with the Ghana Gold Board (GoldBod) amount to losses that undermine the government’s economic management.
Outgoing Majority Leader in Parliament, Mahama Ayariga, has dismissed allegations that financial expenditures linked to the Ghana Gold Board (GoldBod) represent losses that harm the government’s economic strategies. Mr. Ayariga posited that the higher expenses incurred under the Domestic Gold Purchase Programme (DGPP) must be weighed against the overall economic advantages of the policy, especially its role in maintaining cedi stability and curbing inflation.
During a parliamentary session on August 24, 2026, Ayariga revealed that the Ghanaian government had intentionally expanded the amount of gold bought through GoldBod to enhance the nation’s foreign currency reserves. He contended that these additional costs were a necessary price to pay for securing the country’s financial health. Ayariga criticized the opposition for presenting the figures without fully accounting for the wider economic repercussions.
Furthermore, he disclosed that the government is in the process of transitioning GoldBod’s financial dealings from the Bank of Ghana (BoG) to its own accounts. Ayariga argued that this adjustment aligns with recommendations from the International Monetary Fund and the World Bank regarding the handling of such transactions. He reiterated the government’s unwavering commitment to the GoldBod policy, emphasizing the importance of financial stability and currency strength.
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