Move GoldBod costs off BoG books and account for environmental damage - Bokpin

Fiscal gainsOn Ghana’s improved fiscal position, including the reported reduction in debt servicing to below 20 per cent of revenue, Dr Bokpin credited the domestic debt exchange programme, Ghana’s Eurobond holders and expenditure controls under the Finance Minister, Dr Cassiel Ato Forson.

A Professor of Finance at the University of Ghana Business School, Godfred Bokpin, has said the government’s decision to move the financing of gold purchases away from the Bank of Ghana’s balance sheet is a step in the right direction.

He said, nevertheless, the true cost of the Domestic Gold Purchase Programme would remain understated unless the government accounted for the full value chain, including the environmental damage associated with gold mining.