Chief Executive Officer of GoldBod, Sammy Gyamfi, says he will publicly respond to allegations of losses under Ghana’s Gold for Reserves programme on January 5, 2026, following claims by the Minority Caucus in Parliament that the state risks losing nearly $300 million.
In a statement posted on social media on Monday, December 29, 2025, Mr Gyamfi said his response would address issues arising from reports by the International Monetary Fund (IMF), which suggest a loss of about $214 million under the programme.
“As I have already served notice, I will effective Monday, January 5, 2026, be responding and clarifying issues surrounding the IMF’s reported loss of $214 million,” he wrote.
The Gold for Reserves programme, implemented by the Bank of Ghana in partnership with GoldBod—formerly the Precious Minerals Marketing Company—was introduced as part of efforts to shore up Ghana’s foreign reserves and stabilise the cedi amid economic challenges.
However, the programme has recently come under scrutiny after the Minority Caucus accused the government of mismanaging the initiative, warning that losses could rise to nearly $300 million by the end of the year.
Mr Gyamfi said he released what he described as preliminary figures after the Minority addressed the media on Monday, insisting that the claims made did not present the full picture.
He indicated that his upcoming response would provide clarity on the figures and the overall performance of the programme, as public debate intensifies over the management of Ghana’s gold reserves and broader economic recovery efforts.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Source: www.myjoyonline.com