GoldBod, BoG should share cost of domestic gold programme – Dr Sarkodie

He explained that while the BoG provides the financing, GoldBod purchases and aggregates the gold, with the central bank subsequently undertaking transactions involving the gold and foreign exchange.

A Senior Lecturer at the University of Ghana’s Department of Economics, Dr Adu Owusu Sarkodie, has proposed that the financial cost associated with the Domestic Gold Purchase Programme (DGPP) should be shared between the Ghana Gold Board (GoldBod) and the Bank of Ghana (BoG).7 billion figure as a conventional commercial loss, noting that the IMF characterised it as a revaluation loss arising from changes in the value of gold and foreign exchange transactions.