Ghana's Gold Purchase Programme Triggers $1.7 bn Losses and Political Scrutiny

Domestic Gold Purchase Programme Ghana IMF gold reserves monetary financing

The International Monetary Fund reported that Ghana's Domestic Gold Purchase Programme (DGPP) generated losses exceeding $1.7 billion in 2025, equivalent to about 1.5 % of the country's GDP. While the programme boosted foreign exchange inflows, the IMF noted that Ghana's gross international reserves rose to $11.9 billion by the end of 2025, providing roughly four months of import cover.

Opposition MP Kojo Oppong Nkrumah demanded that the Bank of Ghana disclose the total monetary financing it provided to the Gold Board for the DGPP, arguing that taxpayers need full transparency on the programme’s fiscal impact. Deputy Finance Committee member Gideon Boako echoed IMF concerns, stating that responsibility for the losses has been transferred to the Ghana Gold Board for government absorption from July 2026 and highlighting ongoing illegal mining that deprives the country of billions in export earnings.

Data released by Ghana’s central bank show that gold reserves rose to 24.4 tonnes, valued at $3.65 billion in the first half of 2026, moving Ghana to fifth place among African nations in gold holdings, ahead of Morocco.

Entities

Bank of Ghana · Dr Gideon Boako · Ghana · Ghana Gold Board · Gideon Boako · International Monetary Fund · Kojo Oppong Nkrumah

Claims

What the coverage asserts, and how many sources carry each claim.

[○ 1 SOURCE] The DGPP's losses represented a loss of 17 % of the value of doré gold sold by the Bank of Ghana. thevaultznews.com
[○ 1 SOURCE] Ghana's gold reserves reached 24.4 tonnes valued at $3.65 billion in the first half of 2026. borsaefinanza.it
[○ 1 SOURCE] Kojo Oppong Nkrumah called for the Bank of Ghana to disclose the total monetary financing provided to the Gold Board for the DGPP. thevoicenewsmagazine.com
[● 3 SOURCES] The IMF reported that Ghana's Domestic Gold Purchase Programme incurred losses of over $1.7 billion in 2025, about 1.5 % of GDP. thevaultznews.com · thevoicenewsmagazine.com · starrfm.com.gh
[○ 1 SOURCE] The DGPP helped increase Ghana's gross international reserves to $11.9 billion by the end of 2025, providing nearly four months of import cover. thevaultznews.com
[○ 1 SOURCE] The IMF noted that illegal gold mining in Ghana deprives the country of billions of dollars in export earnings. starrfm.com.gh
[○ 1 SOURCE] Ghana moved to fifth place among African countries in gold holdings, surpassing Morocco. borsaefinanza.it
[○ 1 SOURCE] Gideon Boako said the IMF transferred responsibility for DGPP losses to the Ghana Gold Board for government absorption from July 2026. starrfm.com.gh