Gideon Boako: IMF warns Ghana’s gold dependence leaves economy dangerously exposed

Ghana’s Gold Reserves Surge to $11.9 Billion Amid $1.9 Billion Loss—How the Bank of Ghana’s Gold-Backing Program Reshaped the Nation’s Economic Strategy

Ghana, Africa’s largest gold producer, has achieved a remarkable milestone in its economic resilience, with its gross international reserves soaring to $11.9 billion by the end of 2025. However, this financial triumph came with a significant setback: the Bank of Ghana (BoG) suffered a staggering loss of 22 billion cedis ($1.9 billion) in the same period, primarily due to a specialized domestic program aimed at bolstering foreign-exchange reserve…

Value addition and mineral diversification: Safeguarding Ghana’s economy beyond gold

The International Monetary Fund (IMF), in its recent consultation on Ghana, acknowledged that the country’s economic improvement has been supported by exceptionally high gold export receipts.

MTN and IMF leaders in talks on the potential of Africa’s digital economy

MTN Group President and Chief Executive Officer Ralph Mupita on Wednesday met with International Monetary Fund (IMF) First Deputy Managing Director Dan Katz, who is visiting South Africa for meetings with government authorities and representatives of the private sector. Katz was accompanied by his Advisor, Matthew Jones; IMF Mission Chief for South Africa, Delia Velculescu; and IMF Senior Resident Representative and Head of the South Africa Offi…

Gideon Boako: IMF warns Ghana’s gold dependence leaves economy dangerously exposed

Gideon Boako says the IMF has warned that Ghana’s growing dependence on gold exports exposes the economy to global commodity price shocks and underscores the need for diversification.