Minority Leader Osahene Alexander Afenyo-Markin has cited the IMF’s latest review to allege that Ghana lost US$1.7 billion, equivalent to GHS22 billion, in 2025 through the Domestic Gold Purchase Programme linked to the Ghana Gold Board (GoldBod).
Addressing the media in Parliament today, Afenyo-Markin said the figure was contained in the IMF’s Sixth and Final Review of Ghana’s Extended Credit Facility programme completed on 10th July, 2026.
According to the Minority Leader, the losses arose from the arrangement where GoldBod acted as a buying agent for the Bank of Ghana, with BoG providing the financing while GoldBod handled buying, aggregating, assaying and exporting.
Afenyo-Markin argued that while GoldBod may not have recorded the loss on its own books, the GHS22 billion “does not disappear”.
He said the IMF found the losses came from “service and assay fees paid to GoldBod, discounts on gold sold to off-takers, and most importantly, exchange rate losses”.
“The real question is: What did Ghana lose from the transactions? The IMF has now answered that question for the full year. GHS22 billion. Approximately 1.5% of GDP”.
The Minority Leader announced that when Parliament resumes, the Minority Caucus will make “a fresh effort to cause a full Parliamentary probe into these losses”.
He said the new motion will be based on “new matters: this new IMF report, the 22 billion cedis loss for 2025, the negative equity of our central bank”.
Afenyo-Markin also directly addressed GoldBod CEO, Sammy Gyamfi: “Forget the bitter friend story. Bring the ledgers. Bring the list of every off-taker and aggregator. Bring the audited accounts. Come to Parliament, not a Space, and answer for the 22 billion cedis”.
The Minority Leader insisted the NPP is not opposed to GoldBod, noting the policy was in the NPP’s 2024 Manifesto as “Stabilising The Cedi Through Gold Purchase Programme”.
He said the issue is “at what cost, under what governance arrangements, with whose money, under whose risk, and with what accountability”.
The Minority further called on President John Mahama to act, saying GoldBod “has just delivered the single largest financial loss in the recent history of the Bank of Ghana”.
