Finance Minister, Cassiel Ato Forson has attributed Ghana’s ability to conserve foreign exchange and significant gold-backed inflows to the efficient operations of the Ghana Gold Board (GoldBod).
According to him, the state‑run agency tasked with regulating and promoting the country’s gold sector has been the game-changer in achieving a stronger cedi and economic stability.
He noted that the Cedi’s impressive performance over the period has been the envy of many critics after it was rated the world’s best-performing currency in April, with a 16.7 % appreciation against the dollar.
The country’s central bank has been able to rebuild its foreign reserves to the equivalent of four and a half months of import cover after they were nearly depleted during a 2022 economic crisis, Governor Johnson Asiamah told the Reuters, crediting Goldbod’s effort at helping plug foreign-exchange leaks.
Mr. Forson further revealed that reserves increase has strengthened the country’s foreign exchange buffer and boosted investor confidence, enhanced fiscal credibility, and encouraged capital inflows.
The central bank’s gold reserves climbed to 37.06 tonnes by the end of September 2025, driven largely by the new Ghana Gold Board (GoldBod) and its domestic procurement strategy.
He added that in October this year, finance ministers from five African countries also hailed the county’s pioneering GOLDBOD model as a benchmark for resource-led development across the continent.
The meeting, held on the sidelines of the 2025 IMF–World Bank Annual Meetings in Washington, commended Ghana’s approach to natural resource governance.
The high-level meeting brought together finance ministers from Ghana, Liberia, Sierra Leone, The Gambia, and Sudan for strategic discussions with the President of the African Development Bank (AfDB) Group, Dr. Sidi Ould Tah.
Among the wide-ranging issues on Africa’s development agenda, the conversation on natural resource management stood out — with Ghana’s GOLDBOD drawing particular praise and attention.
The GoldBod, set up in March, has brought in about $8 billion by centralizing the purchase and export of gold, ensuring foreign currency earnings return to Ghana.
The GoldBod model keeps drawing interest from some African countries seeking to learn from the country’s experience in establishing and managing institutions that regulate gold trading and certification.
