{
  "id": 2642682,
  "title": "Was Afenyo-Markin’s GoldBod criticism justified or exaggerated?",
  "url": "https://urgent.news/2026/08/22/was-afenyo-markins-goldbod-criticism-justified-or-exaggerated",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-22T20:19:59.000Z",
  "source": {
    "name": "MyJoyOnline Ghana",
    "slug": "myjoyonline-ghana",
    "url": "https://www.myjoyonline.com/was-afenyo-markins-goldbod-criticism-justified-or-exaggerated/"
  },
  "original_language": "en",
  "account": "The ongoing debate surrounding GoldBod, the Bank of Ghana, and the Domestic Gold Purchase Programme is a serious matter that touches on national finances, environmental concerns, and the performance of the public sector. Despite Alexander Afenyo-Markin's efforts to scrutinize the entity's financials, questions arise regarding the validity of his claims.\n\nOne of the primary issues is the assertion that GoldBod made a US$1.7 billion loss in 2025. However, the International Monetary Fund (IMF) material cited in this controversy clarifies that the losses discussed pertain to the Bank of Ghana’s Domestic Gold Purchase Programme, not GoldBod itself. The IMF has specifically warned against attributing these losses to the central bank. Therefore, Afenyo-Markin's claim that GoldBod itself bore the entire US$1.7 billion loss is not supported by the IMF's findings.\n\nTo compound the issue, GoldBod has presented audited 2025 accounts that show an operational surplus of GH¢907 million and an overall surplus exceeding GH¢5.4 billion. This information raises doubts about the accuracy of Afenyo-Markin's claims. While there may be valid concerns about the accounting methods employed by GoldBod, outright dismissal of its financial performance based on a single figure is unwarranted.\n\nMoreover, the situation has escalated to the point where Afenyo-Markin has threatened political retribution against GoldBod officials. This type of language raises concerns about the potential for overreaction and the misuse of power. Irresponsible accusations can lead to unwarranted consequences and tarnish the reputation of those involved.\n\nAdding to the controversy is the apparent focus on individual members of the institution, particularly Sammy Gyamfi. This personal focus detracts from the broader issue at hand and suggests that the debate has become more about targeting specific individuals rather than addressing legitimate concerns about the entity's performance.\n\nIn light of previous instances where Afenyo-Markin's claims have been found to be inaccurate, it is wise for him to exercise caution in making future assertions. Accusations should be backed by concrete evidence and a clear causal connection to a specific offense. Until such evidence is presented, it is unfair to treat every large number in an IMF report as a criminal indictment.\n\nUltimately, Ghanaians are entitled to a serious and measured discussion about the issues surrounding GoldBod and the Domestic Gold Purchase Programme. It is crucial to distinguish between accounting effects, policy costs, and criminal conduct. Ghanaians are discerning and capable of separating political propaganda from factual evidence. Afenyo-Markin, as a prominent Minority Leader, should set an example by adhering to the principles of accountability and basing his claims on verifiable facts rather than unsubstantiated rhetoric.",
  "summary": "There is a serious national conversation to be had about GoldBod, the Bank of Ghana, the Domestic Gold Purchase Programme, public finances and the environmental consequences of gold mining. Unfortunately, Alexander Afenyo-Markin appears determined to turn that conversation into a political courtroom in which the verdict is delivered before the evidence is examined.",
  "key_points": [
    "Alexander Afenyo-Markin claimed GoldBod made US$1.7 billion loss in 2025.",
    "IMF clarified losses pertain to Bank of Ghana's Domestic Gold Purchase Programme, not GoldBod.",
    "GoldBod's audited 2025 accounts show surplus exceeding GH¢5.4 billion."
  ],
  "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."
}