GoldBod to generate US$1.4bn in FX in September

According to GoldBod, US$700 million of the projected amount will be made available to commercial banks through spot sales and funded forward arrangements, while up to US$700 million will be provided to the Bank of Ghana for reserve accumulation under the Ghana Accelerated National Reserve Accumulation Policy (GANRAP).315 billion in foreign exchange in August following the implementation of a new collaborative financing model for its artisanal and small-scale mining gold operations.

The new financing model followed consultations between GoldBod, the Ministry of Finance, the Bank of Ghana, commercial banks and other stakeholders after Cabinet and Parliament approved GANRAP.