Bank of Ghana exits domestic gold purchase programme as GoldBod takes over financial risk

In July 2026, the Bank of Ghana, the Ghana Gold Board, and the government signed a memorandum of understanding that ended the central bank’s direct role in buying gold for the first time since 2021. The agreement transferred the Domestic Gold Purchase Programme and every associated financial risk to the Ghana Gold Board, known as GoldBod.

The transfer removes a massive financial loss from the central bank balance sheet. In 2025 alone, the gold purchase programme generated an estimated GH₵22 billion in losses.

The IMF Prior Action

The shift was not a voluntary restructuring made on a local timeline. The International Monetary Fund classified the July 2026 memorandum of understanding as a prior action in its Sixth Review Staff Report, published as Country Report

According to Joy Online.