Gideon Boako cites IMF report, questions GoldBod over $1.7bn gold programme losses

The Deputy Ranking Member of Parliament’s Finance Committee, Dr Gideon Boako, has drawn attention to key concerns raised by the International Monetary Fund (IMF) regarding Ghana’s mining sector, the Domestic Gold Purchase Programme and the financial position of the Bank of Ghana.

The Finance Committee’s Deputy Ranking Member added that the IMF believes the Bank of Ghana continues to carry significant losses and negative equity resulting from quasi-fiscal operations and the domestic debt restructuring programme.

In his latest economic commentary, “The Gboako Economic Digest - #001/26”, the Tano North Member of Parliament said the IMF acknowledged that the Domestic Gold Purchase Programme had helped strengthen Ghana’s foreign reserves and supported exchange-rate stability.