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FACT-CHECK: Bawumia played key role in introduction of Domestic Gold Purchase Programme

By GhanaSummary Newsroom1 min read
FACT-CHECK: Bawumia played key role in introduction of Domestic Gold Purchase Programme

The responses explain that since August 2024, the Bank of Ghana had not undertaken direct FX market interventions, instead using the Domestic Gold Purchase Programme to intermediate foreign-exchange flows through gold purchases.

Mahamudu Bawumia played a key role in the introduction and development of Ghana’s Domestic Gold Purchase Programme.

In the NPP’s 2024 manifesto, Bawumia pledged to institutionalize the Gold-for-Forex programme and explained the mechanism as one in which the Bank of Ghana would use cedis to purchase locally produced gold and obtain foreign exchange.

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