Ghana news briefing
Ghana’s Domestic Gold Purchasing Programme losses anticipated from outset – Economist
Dr Adu Owusu Sarkodie, an economist, has said that losses under Ghana’s Domestic Gold Purchasing Programme (DGPP) were anticipated because the initiative was designed around incentives to build reserves and curb gold smuggling.
He said the Government and the Bank of Ghana (BoG) introduced incentives, including attractive pricing arrangements, favourable exchange rates and tax concessions for small-scale miners, to encourage their participation in the programme.
Dr Sarkodie suggested that a more efficient design could enable Ghana to continue to build reserves, tackle gold smuggling and reduce the financial burden associated with the programme.
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