Ghana Earmarks $429 Million to Buy Gold, Shifting Fiscal Risks
Bloomberg 2026-07-28 14:48:33
Context: Ghana has allocated funds to finance gold purchases aimed at boosting its foreign-exchange reserves. The program was shifted from the central bank to the government, potentially increasing fiscal risks. This move comes as the country looks to bolster its reserves.
Key Facts
- Ghana has allocated 5 billion cedis, equivalent to $429 million, to finance gold purchases.
- The gold purchase program was shifted from the central bank to the government, a move that may increase fiscal risks.
- The allocation is intended to boost Ghana's foreign-exchange reserves.