{
  "id": 2116218,
  "title": "Who Bears GoldBod Arbitrage Cost? …Kwabena Donkor Asks",
  "url": "https://urgent.news/2026/08/20/who-bears-goldbod-arbitrage-cost-kwabena-donkor-asks",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-20T10:49:09.000Z",
  "source": {
    "name": "The Chronicle Ghana",
    "slug": "the-chronicle-ghana",
    "url": "https://thechronicle.com.gh/who-bears-goldbod-arbitrage-cost-kwabena-donkor-asks/"
  },
  "original_language": "en",
  "account": "Former Minister for Power, Dr Kwabena Donkor, has raised questions about who should be responsible for the costs associated with Ghana's domestic gold purchase programme. The programme, initiated by the Bank of Ghana (BoG) in 2021, aims to bolster foreign exchange reserves and stabilize the cedi by purchasing locally produced gold. However, the costs of this initiative have sparked public debate. The International Monetary Fund (IMF) estimated a $214 million quasi-fiscal cost for the 2025 financial year, but the GoldBod's CEO, Sammy Gyamfi, refuted claims of losses in 2025, citing the audited Annual Report and Financial Statements that showed an operational surplus of GH¢907 million and an overall surplus of GH¢5.4 billion. In response to the ongoing debate, Dr Donkor pointed out that a structural problem exists in the domestic gold purchase process, particularly from small-scale miners, due to the discrepancy between purchase and selling prices. He emphasized that the real question is who should bear this arbitrage cost – the BoG or GoldBod? Dr Donkor further suggested that the government should consider allocating a specific budget line item to cover this legitimate cost.",
  "summary": "Former Minister for Power, Dr Kwabena Donkor, has questioned who should bear the cost arising from the domestic gold purchase programme, despite benefits like a strengthened national currency and robust foreign exchange reserves. The comments come amid public debate over the cost of the domestic gold purchase programme. Ghana’s domestic gold purchase programme was initiated […] The post Who Bears…",
  "key_points": [
    "Kwabena Donkor questions responsibility for GoldBod arbitrage costs",
    "IMF estimates $214 million quasi-fiscal cost for 2025",
    "Donkor points to structural issue with domestic gold purchase process"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}