The ASM G4R programme has been designed to strengthen Ghana’s foreign exchange reserves by formalising the gold trade and reducing smuggling, according to the Ghana Gold Board (GoldBod).
While the initiative entails some cost to the Bank of Ghana, GoldBod says it has produced significant macroeconomic benefits, including higher reserve buffers, increased foreign exchange liquidity, and greater overall economic stability.
The programme has also helped restore public confidence in the nation’s financial system.
Officials emphasised that the primary objective of ASM G4R is national economic stability rather than profit generation.
By encouraging responsible gold trading, the scheme aims to support sustainable growth and reinforce the formalisation of the small-scale mining sector.
GoldBod noted that the programme aligns with broader efforts to enhance transparency in the gold value chain and to ensure that Ghana’s macroeconomic indicators remain robust, benefiting both the public and the private sector.
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Source: www.myjoyonline.com