Gold dependence remains key economic risk for Ghana- IMF

High gold prices have strengthened the country’s external position, supported economic growth and helped rebuild international reserves, but the economy remains vulnerable to adverse movements in global gold prices, the Fund’s latest Article IV Consultation and Programme review report on Ghana said.5, GNA – Ghana’s increasing reliance on gold exports poses risks to the country’s economic outlook despite recent macroeconomic gains, the International Monetary Fund (IMF) has cautioned.

Strong gold export earnings contributed to a current account surplus and boosted the Bank of Ghana’s international reserves to their highest levels in recent years, it said.