<< Back             Poser >> IMF urges Ghana to end quasi-fiscal activities after GH¢22b domestic gold purchase losses The International Monetary Fund (IMF) has urged the Bank of Ghana (BoG) to end quasi-fiscal activities following losses recorded under the Domestic Gold Purchase Programme (DGPP). The Fund said the DGPP recorded losses of GH¢22 billion in 2025, equivalent to about 1.5 per cent of Ghana’s Gross Domestic Product (GDP), weakening the central bank’s financial position. The IMF said the losses, together with other factors, increased the BoG’s negative equity position to 6.7 per cent of GDP by the end of 2025. It said safeguarding the independence and credibility of the central bank required the permanent cessation of quasi-fiscal operations and the full transfer of the DGPP to GoldBod. The DGPP was introduced to strengthen Ghana’s gold and foreign exchange reserves through the purchase of gold from local miners. Although the programme contributed to higher reserves, the Fund said it also imposed significant financial costs on the central bank. In July 2026, the Government, the BoG and GoldBod signed an agreement transferring all DGPP activities from the central bank to GoldBod. Under the arrangement, GoldBod will assume responsibility for purchasing gold and meeting all operational costs, while the BoG will focus on its core mandate. The IMF welcomed the transfer, stating that it would eliminate future financial risks from the central bank’s balance sheet and enhance transparency in the management of the programme. The Fund also called for the recapitalisation of the central bank, noting that a strong financial position was essential to maintaining price stability and confidence in the economy. An independent audit of the DGPP is underway, with its findings expected later this year. Source: GNA Ghana Business News	Dependence on gold remains key economic risk for Ghana – IMF cautions  Ghana's increasing reliance on gold exports poses risks to the country's economic outlook despite recent macroeconomic gains, the International Monetary Fund (IMF) has cautioned. Dangote Refinery drops PMS to N1,165/litre, diesel to N1,570/litre By Peter Egwuatu Dangote Petroleum Refinery has announced a reduction in the ex-depot prices of Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel), effective Thursday 6th of August, thereby reaffirming its commitment to providing affordable, high-quality petroleum products to the Nigerian market. The company in a statement said, under the new pricing structure, the […] IMF urges Ghana to end quasi-fiscal activities after GH¢22b domestic gold purchase losses The International Monetary Fund (IMF) has urged the Bank of Ghana (BoG) to end quasi-fiscal activities following losses recorded under the Domestic Gold Purchase Programme (DGPP). NGX Group declares N1.30 interim dividend as H1 profit jumps 146% By Peter Egwuatu The Nigerian Exchange (NGX) Group Plc has declared an interim dividend of N1.30 per ordinary share for the six months ended June 30, 2026, following a strong first-half financial performance driven by increased trading activity and higher investment income. In a statement, the Group reported that revenue surged 118 per cent to N17.60 […] Oando grows half year revenue to N2.1trn Oando Plc has recorded a 20 per cent increase in revenue to N2.1 trillion for the half-year ended June 30, driven by higher crude oil production, improved operational efficiency and cost optimisation. Bank of Ghana insists banks cut non-performing loans to 10% The Bank of Ghana (BoG) has directed commercial banks to reduce their non-performing loan (NPL) ratios to below 10 per cent by the end of 2026.