Government Accountability Series: Sammy Gyamfi Takes on Minority in Parliament Over IMF Report

As part of the Government Accountability Series, Sammy Gyamfi has mounted a strong defence of GoldBod over claims surrounding the GH¢22 billion loss reported in connection with the Bank of Ghana's Domestic Gold Purchase Programme.

He insists the Minority's claim that GoldBod made the loss is a “bare-faced lie,” arguing that the IMF did not attribute the GH¢22 billion loss to GoldBod. According to him, the Minority has grossly misrepresented the IMF's findings, while GoldBod had no role in the Bank of Ghana's gold sales under the earlier programme.

Sammy Gyamfi explains that GoldBod initially operated only as a buying agent and did not determine offtake discounts, while its originally intended trading model was not implemented until March 2026. He also highlights GoldBod's reported $839 million raised from offtakers between March and May 2026, the settlement of outstanding aggregator obligations and ongoing efforts to tackle gold smuggling.

The accountability series also examines the audit of the Domestic Gold Purchase Programme, plans for a modern gold traceability system, new funding models and the government's ambition under GANRAP to build foreign reserves equivalent to 15 months of import cover. Gyamfi maintains that GoldBod has not recorded losses and challenges the Minority to produce evidence from the IMF report linking GoldBod to the GH¢22 billion figure.