When Gold Makes A Profit Here And A Loss There
Ghana, that resourceful republic where even arithmetic occasionally develops political affiliations, has discovered something remarkable about gold. For centuries, gold was simple. It glittered. Kings wore it. Nations stored Read More... The post When Gold Makes A Profit Here And A Loss There appeared first on DailyGuide Network .
Ghana's Domestic Gold Purchase Programme has sparked controversy over its financial impact. The IMF reported that the programme contributed to Bank of Ghana's losses of about 1.5% of GDP, equivalent to $1.7 billion. This caused citizens to re-evaluate their understanding of economics. The opposition claims the gold operations incurred substantial losses and demands an accounting.
However, GoldBod, which manages the gold purchases, insists it recorded a GH¢5.4 billion surplus. This led to a debate over how a public programme can have both profits and losses simultaneously. The IMF's involvement adds complexity to the situation. The central question is whether a public programme can claim benefits without accounting for its costs.
As the argument continues, ordinary Ghanaians remain uncertain about the true financial outcome of the gold affair.
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- When Gold makes a Profit here and a Loss there… myjoyonline.com
