GoldBod’s real cost to Ghana far higher than reported losses – Bokpin

Economist Professor Godfred Alufar Bokpin says the true cost of Ghana’s gold-buying intervention goes beyond the losses reported in the Bank of Ghana's (BoG) books.

He said a proper assessment of the Ghana Gold Board (GoldBod) must consider the wider fiscal and financial costs of the programme, including taxes the state surrendered to attract artisanal and small-scale gold producers into the formal market.“Macroeconomic stability comes from essentially fiscal and monetary, which is the Bank of Ghana and all of that, so we cannot say that when it comes to macroeconomic stability, which essentially is the work of the Bank of Ghana and then the fiscal side, the Ministry of Finance, the Gold Board can take that benefit.”