BoG Pumps GHS13bn Into FX Market, Loses GHS22bn on Gold: Saving Economy or Counting the Cost?

The Bank of Ghana's intervention in the foreign exchange market and its gold purchase operations are raising questions about the cost of stabilising Ghana's economy. With billions committed to supporting the FX market and significant losses recorded from gold transactions, the debate is whether these interventions are delivering stronger reserves and cedi stability or creating substantial costs for the central bank. The discussion examines the rationale, risks and long-term impact of BoG's strategy. #mattersarising