GoldBod has not made GH₵1.7bn loss – Prof Ebo Turkson

7 billion loss, saying the figure cited by the International Monetary Fund (IMF) relates to losses incurred by the Bank of Ghana through its Domestic Gold Purchase Programme.

Prof Turkson explained that the Domestic Gold Purchase Programme was an economic policy intervention designed to help Ghana build its reserve buffers with gold while reducing incentives for the smuggling of artisanal and small-scale mining gold.” He therefore argued that the IMF's reported figure should be understood as the cost of the gold purchase programme to the Bank of Ghana, rather than a loss incurred by GoldBod.