How BoG’s gold strategy quietly pulled in $17bn and held the economy together
When Ghana’s foreign exchange buffers thinned and confidence in the economy wavered, the Bank of Ghana turned to gold. Read More
Summary:
In 2021, when foreign exchange reserves were dangerously low and the cedi under pressure, the **Bank of Ghana launched the Domestic Gold Purchase Programme (DGPP) to stabilise the economy and rebuild FX buffers. Gold was used as a strategic tool because Ghana is one of Africa’s top gold producers.