{
  "id": 2988881,
  "title": "When Gold makes a Profit here and a Loss there…",
  "url": "https://urgent.news/2026/08/24/when-gold-makes-a-profit-here-and-a-loss-there",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-24T09:00:42.000Z",
  "source": {
    "name": "MyJoyOnline Ghana",
    "slug": "myjoyonline-ghana",
    "url": "https://www.myjoyonline.com/when-gold-makes-a-profit-here-and-a-loss-there/"
  },
  "original_language": "en",
  "account": "Ghana's Domestic Gold Purchase Programme has sparked a debate over profits and losses within the country's financial system. On one hand, the GoldBod company, which manages the gold purchases, claims to have recorded a GH¢5.4 billion surplus. However, the Bank of Ghana, which financed the purchases and absorbed exchange-rate differences and other costs, reports losses equivalent to about 1.5% of Ghana's GDP in 2025, equivalent to around $1.7 billion.\n\nAt first glance, the numbers seem to make sense – one party is claiming profit while the other is claiming loss. But the confusion deepens when one considers that the programme's overall impact is not solely attributed to one institution or the other. Rather, it appears that the programme's success in improving Ghana's reserves and strengthening the cedi was offset by the losses incurred during the procurement and exchange rate fluctuations.\n\nThe IMF has played a crucial role in this situation, providing the necessary oversight and calculations. But the fundamental question remains: if every department is operating within its own budget and showing positive results, where did the $1.7 billion loss come from? It seems that national accounting, much like a Ghanaian family funeral, can be more complicated than it initially appears.\n\nThe key takeaway from this gold affair is that a public program must account for both its benefits and its losses. While the programme deserves credit for its successes in strengthening reserves and boosting foreign exchange, it cannot overlook the costs incurred during the process. Ultimately, it is up to the financial institutions and policymakers to reconcile the discrepancies and ensure that Ghana's glow does not come at the expense of its financial health.",
  "summary": "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 it.",
  "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."
}