‘The gains are not durable’ – Prof Bokpin warns over Ghana’s gold-driven stability

Speaking on Joy FM’s Super Morning Show on Monday, August 24, while discussing the reported losses under the Domestic Gold Purchase Programme (DGPP), Prof Bokpin said Ghana had placed too much emphasis on the benefits of the global gold price boom while paying insufficient attention to the environmental destruction caused by irresponsible mining.

He said policymakers must look beyond short-term macroeconomic indicators and ensure that the environmental and social costs of gold production are properly accounted for when assessing the country’s economic performance.

Professor of Finance and economist at the University of Ghana, Godfred Bokpin, has warned that Ghana’s gold-driven macroeconomic stability is fragile and could be reversed by a sharp decline in global gold prices.