Bawumia’s Gold Policy Being Celebrated – Gideon Boako

Bawumia’s Gold Policy Being Celebrated – Gideon Boako

Dr. Gideon Boako   Member of Parliament (MP) for Tano South and Deputy Ranking Member on the Finance Committee of Parliament, Dr. Gideon Boako, has observed that government is artificially pushing the strength of the Cedi through the gold purchase programme. In a reaction on the subject, he noted that “when Dr. Bawumia and the New Patriotic Party (NPP) Government introduced this policy, the National Democratic Congress (NDC) went to the market i…

Cedi’s Rise Not Due To Gold Reserves

Sammy Gyamfi, Acting Managing Director of the Precious Minerals Marketing Company (PMMC), has argued that attributing the recent strengthening of the cedi solely to Ghana’s gold reserves is misleading—if not entirely incorrect. He argued that while gold reserves at the Bank of England had risen to about 30 tonnes by the end of 2024, the U.S. dollar was still trading at a steep GHS16.  By 2025, despite only a modest increase in reserves—up by jus…