{
  "id": 2765118,
  "title": "Ghana’s Central Bank Lost US$1.7 Billion Buying Gold, the IMF Says",
  "url": "https://urgent.news/2026/08/23/ghanas-central-bank-lost-us-1-7-billion-buying-gold-the-imf-says",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-23T09:44:27.000Z",
  "source": {
    "name": "The Rio Times",
    "slug": "the-rio-times",
    "url": "https://www.riotimesonline.com/ghana-gold-purchase-programme-loss-inquiry-2026/"
  },
  "original_language": "en",
  "account": "The International Monetary Fund (IMF) has revealed that Ghana's central bank suffered a financial loss of over US$1.7 billion in 2025 due to the purchase of gold. This loss represents 1.5% of Ghana's national output and 17% of the gold resold. A significant portion of the expenditure was incurred through buying gold at one exchange rate and then recording the transaction at a different rate. The US$1.9 billion figure circulating elsewhere is simply the same loss converted at a different rate.\n\nMinority Leader Alexander Afenyo-Markin of the opposition party has called for an investigation into the loss, demanding to know the names of the buyers, the discounts they received, and the authority behind these discounts. He also wants the loss broken down into components of exchange rate differentials and the spread between purchase and sale prices. The controversy revolves around whether the losses should be associated with the Ghana Gold Board or the Bank of Ghana, as both entities are involved in the trading process. The Domestic Gold Purchase Programme, which aims to build reserves and support the cedi, has been credited with stabilizing the currency, but the true cost of acquiring the gold remains a contentious issue.",
  "summary": "The Minority Leader wants the off-takers named and the discounts published. GoldBod disputes the framing. The post Ghana’s Central Bank Lost US$1.7 Billion Buying Gold, the IMF Says appeared first on The Rio Times .",
  "key_points": [],
  "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."
}