Boako challenges claims of GoldBod’s $1.1bn reserve contribution, says it may be repayment to BoG

1 billion generated by the Ghana Gold Board (GoldBod) represents an addition to the Bank of Ghana’s (BoG) foreign exchange reserves.

Dr Boako said under the current gold purchasing arrangement, following the Bank of Ghana’s exit from the gold purchasing funding scheme, the destination of the foreign exchange proceeds would depend on the source of financing for the gold purchases.7 billion in 2025 after receiving cedi funding from the central bank to purchase gold on its behalf but failing to deliver the gold.